RIPPLE HOLDS ON TO DOUBLE-DIGIT GAINS, HIGHEST IN TOP 20 CRYPTOCURRENCIES
- Ripple rallied over 19% in the past seven days per CoinGecko data, as XRP broke past the $0.50 psychological barrier.
- The altcoin broke past resistance at $0.50 on the one-year anniversary of Judge Analisa Torres’ XRP ruling.
- XRP trades at $0.5255 on Sunday, holding on to gains from the week.
Ripple (XRP) extended its seven-day gains, the altcoin is up 19% in the timeframe, per CoinGecko data. The XRP holder community celebrated the first year anniversary of the Securities & Exchange Commission (SEC) vs. Ripple lawsuit’s key ruling on the secondary market sales of the altcoin.
The altcoin rallied past the $0.50 psychological barrier and trades at $0.5255 at the time of writing.
SEC vs. Ripple lawsuit key ruling, a year later
In the SEC vs. Ripple lawsuit, Judge Analisa Torres ruled that XRP is not a security in its secondary market sales, or transactions on crypto exchanges. This ruling from July 13, 2023 was considered a partial victory for the payment remittance firm.
On the one year anniversary of the XRP ruling, the altcoin rallied to $0.5661, the highest level in 2024, marking the largest weekly gain this year. The ruling was cemented further as Judge Amy Berman Jackson, ruled in the SEC vs. Binance lawsuit, citing the XRP ruling as precedent.
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