Ripple Wins Big in XRP vs. SEC Case as Non-Security Status Becomes ‘Law of the Land’

July 2, 2024 Blockgates Cryptocurrency News Comments Off on Ripple Wins Big in XRP vs. SEC Case as Non-Security Status Becomes ‘Law of the Land’

  • Ripple’s victory in the XRP vs. SEC case solidifies XRP’s non-security status.
  • The court’s decision, now recognized as “Law of the Land,” positively impacts XRP’s market position.

In a turn of events after the countdown began, as reported in a previous CNF report Ripple vs. SEC Faces Crucial 14-Day Deadline as XRP Case Battle Heats Up, Ripple finally comes out as a big winner in the XRP vs. SEC case, with non-security status becoming ‘Law of the Land’.

Via his tweet, Collin Brown shared his excitement and congratulated XRP holders as Judge Torres’ XRP ruling is now officially recognized as “Law of the Land.”

Chief Legal Officer of Ripple, Stuart Alderoty, also earlier stated in his tweet that Judge Torres in SEC v Ripple got it right – XRP, in and of itself, is not a security. Other Courts are recognizing her decision for what it is – consistent with the law of the land.

Alderoty further expressed in a comment that,

For all the SEC has done to muddy the waters with its inconsistent legal theories, the courts are seeing right through them. The Binance decision last night is long but absolutely worth a read.

Despite the confusion created by the SEC with their inconsistent legal arguments, it was clear to the courts the SEC’s tactics. In addition, even though the recent court decision involving Binance was very long, it was revealing information to read.

Market Impact of the XRP’s Victory

The impact of the successful Ripple v. SEC case is positive. At the time of writing, Ripple (XRP) trades at $0.4781 with an increase of 0.05% in the past day and 0.02% in the past week.

This development lifts XRP to a better market position compared to when XRP’s price stayed consistently below both the 50-day and 200-day EMAs, as CNF reported in mid-June. See the XRP price chart below.

Recommended for you:

          No spam, no lies, only insights. You can unsubscribe at any time.