In the past 24 hours, XRP surged by over 20% despite the entire crypto market having a pullback from a recent rally. The reason for this sudden rise in the price of XRP is none other than a very popular Ripple vs SEC court case. In this article, we will look into the case and the fact that XRP surged by 20% in less than a day. 

What is XRP vs SEC?

SEC stands for the Securities and Exchange Commission, a regulatory body that monitors the market. And Ripple is one of the oldest cryptocurrencies which was created in 2012. Now the scenario is that in 2020 SEC sues Ripple saying that the coin XRP created by the Ripple founders is an unregistered security which worth around $1.3 billion, which is illegal. 

The case is being fought for a very long time and is been one of the most popular fights between the crypto entities and the SEC. It is also important to understand the impacts of the result of this case. If SEC wins this case, then almost each and every coin in the market will fall under the bracket of security and if Ripple wins the case then this will be a major set back to SEC and will be helpful to the crypto industry in future. So this is the basic overview of what is XRP vs SEC and how important it is for the entire crypto industry.

What is the Latest Update?

We have seen the history of XRP vs SEC, now let's come to the present and understand what made XRP to surge over 20% in less than 24 hours. 

So the update is that, in the recent hearings Ripple lawyer has presented documents of the recent Supreme Court decision which supports and strengthens the Ripple's defence against SEC. Ripple Lawyers also made a keynote asking the Judge Analisa Torres to consider this while taking decisions. Another thing is that the expert witness presented by the SEC lawyers is removed and this gives the super strength to the Ripple side.

Now the Ripple supporters and crypto industry sees it as one of the win and the words are that the Judge might dismiss the case. And the entire crypto space and the market positioned themselves accordingly and as a result XRP took off and now standing around ~$0.46, which is a local high in a long time. 

Word of Caution!

Well, I'm sure that you know anything can happen in the courtroom, things can change anytime, I hope not but it is possible and you should not bet on entirely on the speculations. So, before diving into the XRP make sure you understand what XRP is, because there is an entire community in the crypto space which directly criticise Ripple for various reasons, so read about it and then decide which side you are, instead of going directly for XRP shopping. 

Hope you guys are doing fine! I'm little busy with my work so could not write regulary but hey I looking to take time and be here, you know crypto is addictive!

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