These two documents in the XRP lawsuit caused the price of “Crypto Insiders” to rise

Who went to yesterday Ripple Chart (XRP) A sudden increase of at least 10% appeared in the early afternoon. The rally came amid a market-wide correction that once again sent prices lower. Where did this amazing increase in XRP suddenly come from? It seems that the reason lies in two new documents!

New XRP development suit

Two new documents have been released in the lawsuit between Ripple, its founders, and the Securities and Exchange Commission (SEC). who is that Documents It turns out that Ripple has gone to great lengths to ensure that XRP is not affected. Yesterday, investors saw this as a potentially positive development for Ripple’s position in the lawsuit.

Both documents are from Perkins Coye, an international law firm. As early as 2021, Ripple raised the alarm here to investigate its plan to create a file Cryptocurrency for firing. At the time, in February 2012, Perkins Koe came to the conclusion that the shape of cryptocurrency could indeed be considered an influence at that time.

Ripple has adapted

In response, Ripple proceeded to modify its plan. Later the bell rang again with Perkins Coie for a reassessment. In October 2012, the law firm issued a new memo. And it was more positive, says Jamer Phelan, the attorney who has been following the case:

“October note [2012] He was more positive, and while he said there was a “small” risk of SEC disapproval, Perkins Coe concluded that Ripple Credits [de vroege versie van XRP] They should not be considered securities. The note also suggested steps that Ripple could take to reduce the risk of the Securities and Exchange Commission.”

3/5 The October note was more positive, and while it said there was a “small” risk that the SEC might not approve, Perkins Coe concluded that Ripple Credits should not be considered securities. The note also suggested steps that Ripple could take to reduce the risks to the SEC

– James K. Phelan 🇺🇸🇮🇪 (@FilanLaw) February 18 2022

Why does it work well with Ripple

There are two notes that could positively impact Ripple’s business. It shows that the company did not just launch and sell cryptocurrency. Ripple has conducted research prior to launch, which indicates its willingness to comply with applicable laws and regulations. In response to the new documents chirp Ripple CEO, Brad Garlinghouse:

“What we see is that the Securities and Exchange Commission waited 8 years to decide not to agree to this analysis, eliminating thousands upon thousands of XRP holders (who claim to be protecting them) in the process.”