Cryptocurrency

Heavy Blow To Ripple In XRP Case: SEC Turns Out To Be Profitable This Time

After the cryptocurrency market lost its value in a single day XRP A new one has been added to the bad news received by its investors. With Ripple U.S. Securities and Exchange Commission (SEC) This time, Ripple received negative news in the ongoing lawsuit.

Ripple’s Objection Was Unconfirmed

Ripple had revealed that the SEC was gathering information about XRP and Ripple by contacting foreign regulators and exchanges. Ripple strongly opposed this, demanding the SEC to end its actions and filed a petition to the court. If netburn Ripple By rejecting this petition, it ruled that the SEC could continue its investigations.

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Although Ripple emphasized that the SEC was “doing this research maliciously”, Netburn, who looked at the court, emphasized that there was no evidence for this and that the investigations could continue. In addition, it was emphasized that the SEC does not need to present to the court what it considers “privileged and special” among the information obtained from foreign regulators. The SEC achieved two victories in one decision.

Ripple was on the agenda with the news that in April, it could receive a positive decision from the court and access the SEC’s correspondence especially about BTC, ETH and XRP. The XRP price, which was on the rise with this news, has lost 20% in the last 24 hours after this blow. XRP was one of the most bearish, but the negative decision failed expectations and XRP joined the rest of the market.

 

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