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Ripple (XRP) Pumps 25%: Lawsuit Getting Closer to a Decision

SEC and Ripple call for a summary judgment over Ripple’s XRP sales

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Ripple (XRP) received strong positive traction and hit an intraday high of $0.496709 as it awaits a resolution in its ongoing litigation with the US Securities and Exchange Commission. At the same time, the continued uptrend in the cryptocurrency market strengthened the prices of Ripple (XRP) coins.

According to reports, the price of XRP has increased by around 25% in the past month and the asset has increased by 41%. On September 18, Ripple Labs filed for summary judgment, a legal process in which a court makes a final decision based on the facts presented rather than ordering a trial, and a decision on whether XRP is a security is expected by mid-December. according to defense attorney James K. Filan.

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The cryptocurrency market has rallied over the past 24 hours. Bitcoin, Ethereum and BNB have increased in value. As a result, XRP has risen; XRP is up over 20% and other cryptocurrencies are on the rise.

Ripple Price Review & Tokenomics

The current XRP price is $0.501922 with a 24 hour trading volume of $3,531,068,038. In the last 24 hours, XRP has gained 2.04%. CoinMarketCap is now ranked #6 with a live market cap of USD 25,020,167,436. It has a total supply of 100,000,000,000 XRP coins and a circulating supply of 49,848,747,475 XRP coins.

Ripple Thu Will solve with the SEC

The pivotal legal dispute between the Securities and Exchange Commission (SEC) and Ripple Labs that has gripped the cryptocurrency sector in recent years may be coming to an end. On September 18th, Ripple’s defense attorney James K. Filan tweeted that Ripple Labs CEO Brad Garlinghouse had filed an early motion for summary judgment.

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The next day, Caroline D. Pham, commissioner of the Commodity Futures Trading Commission, spoke with Brad Garlinghouse. This comes after reports that Ripple and the SEC have asked a court to resolve their ongoing legal dispute.

The crypto community is generally enthusiastic about the situation. If a settlement is reached, Ripple’s price will rise above $0.50. Moreover, they are optimistic about the possibility of a compromise, since Ripple Labs claims that there is no investment agreement. As a result, a summary judgment motion is considered a cautious strategy that could lead to a settlement with the SEC.

On the other hand, investors are positioning themselves favorably as they await the resolution of Ripple’s legal dispute with the US Securities and Exchange Commission. As a result, XRP, a payments-focused cryptocurrency, has outperformed larger cryptocurrencies. Some traders buy bullish options bets, expecting continued profits until the end of the year.

Restoring crypto market sentiment

The cryptocurrency market is returning to an uptrend this morning. The total value of the cryptocurrency market has increased by 4.81 percent to $941.84 billion, crossing the $900 billion mark. The total volume of the cryptocurrency market in the last 24 hours was $76.01 billion, which is a decrease of 14.92% from previous levels.

Bitcoin, Ethereum, and Binance Cash have all gained in the past 24 hours. Bitcoin is now worth $19,353, up 4.56 percent. Ether, a cryptocurrency on the Ethereum blockchain, is up 6.04% at $1,331.

The BNB coin native to Binance Smart Chain has gained 3.29%. As a result, the resurgence of the cryptocurrency market was considered one of the main factors contributing to the continued rise in value of the XRP coin.

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