New update · April 14, 2021 0

XRP price surges over 40% & Ripple (XRP) price history from 2013 to April 14, 2021

Over the weekend, XRP, the native cryptocurrency of Ripple Labs’ XRP Ledger, increased by more than 40%, increasing from US$1 to US$1.47, its highest level in three years. At the time of writing, XRP was trading at $1.35 USD.

The price of XRP has risen as a result of yet another court decision in Ripple’s favor — the second in the same week — during the discovery process of the Securities and Exchange Commission’s litigation against the company. XRP, which was just a week ago the seventh most common cryptocurrency, is now the world’s fourth largest cryptocurrency by market capitalization.

The SEC’s request for up to eight years of personal financial records from Chris Larsen, Ripple’s co-founder and executive chairman, and Brad Garlinghouse, Ripple’s chief executive officer, was denied by U.S. Magistrate Judge Sarah Netburn on Friday.

The SEC’s request for up to eight years of personal financial records from Chris Larsen, Ripple’s co-founder and executive chairman, and Brad Garlinghouse, Ripple’s chief executive officer, was denied by U.S. Magistrate Judge Sarah Netburn on Friday.

“The SEC’s requests for the Individual Defendants’ personal financial records, apart from those records of XRP transactions that are already promised, are not relevant or proportional to the needs of the case,” Netburn said, in her ruling.

Last December, the SEC filed a lawsuit against Ripple, alleging that its sale of XRP was an unregistered securities offering worth over US$1.38 billion. The SEC also named Ripple’s executive chairman Chris Larsen and CEO Brad Garlinghouse as co-defendants for allegedly aiding and abetting Ripple’s violations and making US$600 million in personal profits from their unregistered sales of XRP. 

In a letter to the judge in March, defense lawyers for Garlinghouse and Larsen had argued that “the SEC’s multi-front attempt to troll through the Individual Defendant’s personal financial information in a non-fraud litigation, where the Defendants have already agreed to produce the relevant information regarding the challenged transactions, is a wholly inappropriate overreach.”

In her 10-page ruling, Judge Netburn noted that the “case is in its beginning stages, and the SEC’s rush to serve requests and subpoenas seeking duplicative information of records already promised is premature at best.” 

“The Court is not convinced that the personal banking records would show (or even could show) what the SEC claims they would — individual violations of Section 5,” the judge wrote. 

Under Section 5 of the Securities Act, all offers and sales of securities must be registered with the SEC. Section 5 also regulates the timeline and distribution for issuers who offer securities for sale — the determination of which could go to the core of the SEC’s case and Ripple’s defense. 


Ripple (XRP) price history from 2013 to April 14, 2021

XRP, a cryptocurrency, hit a value of over 0.40 US dollars per coin in January 2021, more than twice what it was in December. Ripple’s value has remained below a dollar per coin for over a year, with no signs of improvement.


what is ripple

Ripple is a term used to describe a phenomenon that occurs when two or more
Ripple is a cryptocurrency that also functions as a payment system. It does not use blockchain, unlike other cryptocurrencies. Instead of using distributed ledger technology, it employs a single shared ledger to which many users have access, swapping the protection of a large number of ledgers for faster transaction times. Although XRP isn’t the most well-known cryptocurrency,

Daily Ripple value from August 2013 to April 14, 2021

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