A Forbes contributor, Sam Lyman, recently expressed his opinion on the ongoing SEC vs. Ripple lawsuit, stating that the US Securities and Exchange Commission (SEC) went too far in its crackdown on Ripple. Lyman highlighted the contradictions and conflicts between the SEC’s past statements, operations, and present positions, which could affect the outcome of the lawsuit. Notably, the recent ruling by Judge Torres could change how the SEC moves regarding Ripple and the entire crypto industry going forward.
XRP Price Action
Following the judge’s ruling on May 16, XRP’s price rose from its opening value of $0.4284 to close at $0.4481, showing a surge of 3%. However, at the time of writing, XRP is trading at $0.4621, showing a drop of 0.85% over the past 24 hours. Its market cap is $23.99 billion, and the 24-hour trading volume is 832 million. The 7-day price action for XRP indicates an over 8% increase.
