“Does that mean there is still a long way to go for XRP to win?”
After failing to provide solid evidence, Ripple managed to secure another victory when Judge Analisa Torres recently rejected the Securities and Exchange Commission's (SEC) motion to appeal the case.
In the wake of the news, the price of the Ripple-founded cryptocurrency XRP has climbed more than 5% as its community expressed its excitement that the legal battle will end soon.
Additionally, Judge Torres has set a trial date of April 23, 2024, therefore both parties must submit all filings and trial documents required by December 4, 2023.
However, the SEC may appeal the case once the trial is over, Bloomberg Senior Litigation Analyst Elliott Z. Stein revealed that the court only dismissed the interlocutory appeal before the final judgment in the case.
On the other hand, the XRP Ledger Version 1.12.0 feature that allows asset issuers to reclaim tokens if they suspect the recipient is fraudulent has sparked controversy among the community who fear it will give issuers too much control.
Despite this, Ripple has been listed in the Fintech 100 list for modernizing cross-border payment methods.
Not only that, one of JPMorgan's largest financial institution subsidiaries, Chase Bank, has signed an agreement with the blockchain settlement system FCF Pay to allow customers to use cryptocurrencies such as XRP as payment.
As of this writing, XRP price has plunged by 0.61% to $0.52 in the last 24 hours with a market cap of $27 billion but is still up 2.85% over the past week.
