Ripple CTO warns of XRP scams amid SEC-induced hype
The price of XRP has increased by more than 70%, taking its value from $0.47 to $0.82 in one day . The incident also marks the largest price increase for XRP in the past year.
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A court ruling in favor of Ripple Labs – declaring that XRP (XRP) is not a security – has reignited long-lost hype around the ecosystem. Anticipating an influx of scams as the token rallied, Ripple's Chief Technology Officer David Schwartz issued a warning to investors.
A two-year legal battle between the U.S. Securities and Exchange Commission and Ripple was partially concluded on July 13, with its XRP token shedding the "security" tag in a court ruling from district of the United States for the South. District of New York.
XRP is not a security.
This win for @Ripple is a win for the entire industry and a step towards regulatory clarity in the US
Many thanks to @bgarlinghouse, @chrislarsensf and @s_alderoty for their leadership and to the #XRPCommunity for their continued support.
— Ripple (@Ripple) July 13, 2023What followed was an organic but substantial rise in the market price of XRP. As shown below, the price of XRP rose by more than 70%, taking its value from $0.47 to $0.82 in one day. The incident also marks the largest price increase for XRP in the past year.
The price of XRP has increased by more than 70%, taking its value from $0.47 to $0.82 in one day . The incident also marks the largest price increase for XRP in the past year.
News
Join us on social networks
A court ruling in favor of Ripple Labs – declaring that XRP (XRP) is not a security – has reignited long-lost hype around the ecosystem. Anticipating an influx of scams as the token rallied, Ripple's Chief Technology Officer David Schwartz issued a warning to investors.
A two-year legal battle between the U.S. Securities and Exchange Commission and Ripple was partially concluded on July 13, with its XRP token shedding the "security" tag in a court ruling from district of the United States for the South. District of New York.
XRP is not a security.
This win for @Ripple is a win for the entire industry and a step towards regulatory clarity in the US
Many thanks to @bgarlinghouse, @chrislarsensf and @s_alderoty for their leadership and to the #XRPCommunity for their continued support.
— Ripple (@Ripple) July 13, 2023What followed was an organic but substantial rise in the market price of XRP. As shown below, the price of XRP rose by more than 70%, taking its value from $0.47 to $0.82 in one day. The incident also marks the largest price increase for XRP in the past year.
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