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US District Judge Analisa Torres has rejected the U.S. Securities and Exchange Commission’s motion to appeal in the ongoing Ripple lawsuit.
Widely-followed crypto Twitter account db (@tier10k) posted the breaking news, causing an immediate 5% spike in the XRP price.
Judge Rejects SEC Appeal vs Ripple
View the October 3rd order on courtlistener.com, at the bottom of page six.
‘The SEC’s motion for certification of interlocutory appeal is DENIED, and the SEC’s request for a stay is DENIED as moot.’
Read our early September coverage of Ripple Labs objecting to the the SEC’s motion to appeal here.
XRP Price Spikes
The XRP price hit an intraday high of just under $0.55 at the time of writing, now trading back above the 200 daily EMA.
On July 13th the XRP price spiked to $0.96 when it was first ruled by Judge Torres that XRP is not a security – a retest of that high would be a close to 80% move for XRP from its price today.
This is a developing story.
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