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XRP Price Surges 12% Following Positive News in the Ripple-SEC Case

Positive news emerged for Ripple (XRP) late last week as the blockchain giant looks to get relisted on US coin exchanges. In a historic SEC lawsuit against Ripple Labs, a judge involved in the discovery process acknowledged XRP’s viability as both a currency and utility. In the same hearing, the SEC admitted that only Ripple and its affiliates are capable of illegally soliciting securities. Could this open the gateway for relisting?
The Significance of XRP as a Currency
Judge Sarah Netburn of the Southern District Court of the United States characterized XRP exactly how Ripple lawyers characterize it—as both a currency and a utility.
If Ripple successfully argues its native coin is a currency (and not a security), the entire case unravels. It appears that Judge Netburn is nearing that conclusion.
Since the Dec 22 press release of the SEC’s lawsuit, XRP has been dropped from every major US crypto exchange. Despite that, Ripple continues to grow in other markets like Asia.
Notably, Netburn is not the primary judge on the case; he is assisting and consulting the case in the discovery and mediation process. However, if Judge Netburn acknowledges XRP’s applicable use as a currency before an asset, it would boost the odds of Judge Analisa Torres (the primary judge) siding with Ripple.
In a video published Saturday, attorney Jeremy Hogan (who is not involved in the case) commented:
“If I’m Ripple, I’m feeling pretty good that my mediator and consulting summary judgment judge …
Story continues on Crypto Potato

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