XRP Price Remains Below $0.65 - Ripple Lawsuit May Suffer Due to Coinbase Defeat
The XRP price has slightly fallen to $0.61 on Thursday after a groundbreaking ruling on programmatic sales in July, which gave Ripple a partial victory against the US Securities and Exchange Commission (SEC), found no echo in a similar legal dispute between the regulatory authority and cryptocurrency exchange Coinbase. A US court ruled that SEC's allegations of the exchange operating as an unregistered broker were justified, rejecting Coinbase's request to dismiss the lawsuit.
This development could significantly impact Ripple's ongoing litigation with the SEC, as Coinbase partially based its defense on Ripple’s historical judgment. As reported by FXStreet, this setback for Coinbase might influence Judge Analisa Torres' decision regarding programmatic sales of XRP.
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XRP Price Drop After Coinbase Ruling: Pressure Mounts on Ripple's Legal Battle
Following a recent U.S. court ruling against crypto exchange Coinbase, which indirectly affects its case with the SEC, XRP saw a decline in value as it failed to break resistance at $0.65 USD. The rejection of an application by Coinbase seeking dismissal of an SEC lawsuit suggests that previous defenses citing victories over the regulator may not hold up—a development particularly significant for XRP holders who are closely monitoring the outcomes that could affect their investments.
Detailed coverage from Crypto Magazine indicates how intertwined these cases are and highlights potential repercussions for both companies involved.
Ripple News: Mastercard Praises XRP For Cross-Border Payments Revolution
In recent news highlighting technological advancements within financial systems, payment giant Mastercard has commended blockchain technologies like XRPL used by Ripple for improving cross-border payment efficiency across Latin America—a region where traditional banking challenges, such as high fees and long wait times, can be mitigated through digital solutions.
CryptoNews reports Mastercard acknowledging firms like MoneyGram partnering with Stellar, while SBI Remit utilizes Ripple’s technology with XRP as a bridge currency, facilitating quick and low-cost transfers globally—an innovation that is also extending into Central Bank Digital Currencies (CBDC) platforms discussions worldwide.
Mastercard Lauds Ripple's Contribution To International Payment Systems With Its Use Of XRP Ledger Technology
A recently published whitepaper by Mastercard has lauded the ripple network (XRP) benefits, especially addressing international transaction issues that are solved by the popularization of XRPL—particularly throughout South America. Digital convenience factors such as speed and simplicity are provided compared to traditional methods, according to insights shared by Marcelo Theodoro, an Intermex representative cited within the document sourced from Blockchain News.
