The XRP currency witnessed a 13% increase to $3.35, with a trading volume surge of 168%, following the legal victory that Ripple achieved over the U.S. Securities and Exchange Commission (SEC). This rise was supported by statements from XRP-supportive lawyer Bill Morgan, who sharply criticized Bitcoin maximalists, particularly Michael Saylor.
Morgan: XRP has never been and will never be a security
Morgan confirmed that the recent ruling has ended the debate over the legal status of XRP, noting that Ripple's previous sales, whether institutional or programmatic, have been legally settled with the SEC and their legitimacy has been proven. He also described Michael Saylor's statements, who believes that all altcoins are securities and that Bitcoin alone is a commodity, as incorrect and misleading.
The resilience of the Ripple community in the face of pressures
Morgan praised the Ripple community's ability to withstand legal and media attacks, emphasizing that the case was an attempt to undermine XRP's existence, but the unity of the community resulted in a positive outcome. He also criticized some Bitcoin supporters for using abusive language when criticizing Ripple and its supporters.
Ongoing conflict between Bitcoin supporters and XRP
The attacks from Bitcoin maximalists on XRP continued, with accusations against Ripple of selling its currency stock to individual investors. However, Morgan responded by reminding of the historical rise in XRP's value of 50,929% since its launch, describing its critics as misleading individuals who promote inaccurate information.
Future Predictions
Ripple's legal victory has boosted investor confidence, amid increasing speculation about the possibility of launching an XRP exchange-traded fund (ETF), which could elevate its market position and increase investor interest.
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