XRP Won The Battle Against SEC

On July 13, Ripple Labs won a partial victory in a court case against the Securities and Exchange Commission (SEC) in the Southern District of New York, which was started in 2020.

On July 13, Judge Torres made a decision in favor of Ripple Labs. The judge ruled that the XRP token is not considered a security, but this decision applies specifically to its sales on digital asset exchanges.

The SEC won a victory when a judge ruled that XRP is considered a security when sold to institutional investors, based on certain criteria outlined in the Howey Test.

The SEC lawsuit against Ripple aimed to make Ripple stop selling its XRP token because the SEC considered it a security that needed more regulation.

The price of XRP jumped from $0.45 to $0.80 within a few hours after the news came out. This means the token’s value has increased by more than 69% since the time of publication of this article.

Since December 2020, Ripple, along with its two chief executives, Brad Garlinghouse and Chris Larsen, have been facing a legal case brought by the SEC. The SEC claims that Ripple offered a security without registering it, which is against the law.

In the past three years, the case has been filled with exciting moments, like the release of the “Hinman Documents” and Garlinghouse’s continuous refusal to accept the SEC’s accusations.

The XRP token is rising in value, and people in the crypto community seem to be very happy about it.