Good news came out last night surrounding the SEC’s lawsuit against Ripple Labs. The judge has decided that the document written by former SEC representative William Hinman must be released. This document includes a speech in which Hinman says that Ethereum is not an effect. The judge’s ruling is very good news for Ripple and puts even more pressure on the SEC to settle the lawsuit.
The XRP price shoots up by 12 percent
Immediately after the good news from the courtroom, the XRP price shot up by more than 12 percent. At the time of writing, the price of 1 XRP token is around $0.4911, while the price was around $0.44 less than 24 hours ago.
Technical analysts say it would be a very good sign if Ripple manages to overcome the psychological price level of $0.50 and turn it into support. The chance of a larger price increase towards the important $0.56 level is then obvious.
