- The initial hearing between Ripple and the SEC takes a new course.
- Judge Netburn asked for explanations on how XRP is different from BTC and Ether.
- Amid the lawsuit, XRP prices have surged above the $0.5 barrier.
The results of the initial hearing between Ripple and the SEC has sent XRP prices rolling higher. Currently, the XRP community is in a euphoric state as the hearing appears to favour Ripple.
XRP price surges amid Ripple legal battle
On March 19, the case against Ripple took a new course during the preliminary hearing at the Southern District of New York (SDNY). The court session took place online featuring a phone line for observers. During the hearing, the judge presiding over the case, Judge Netburn, made an unbelievable statement that shocked XRP fans.
He asked Ripple lawyers for clarifications on XRP use cases and how it is different from Ethereum and Bitcoin. Judge Netburn says that he understands that XRP has a utility that sets it apart from Bitcoin and Ether. This comes after Ripple had demanded Bitcoin and Ethereum documents from the SEC since they are considered similar to XRP.