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Breaking: Ripple Labs made A Landmark Victory in SEC Case Over XRP Crypto


Yesterday Thursday, June 13, a United States judge Analisa Torres ruled that Ripple Labs didn’t violate any federal securities laws by selling its XRP token on public platforms.

Ripple Labs notched a landmark victory in the US District Court in the Southern District of New York yesterday.

The presiding Judge, Analisa Torres ruling favored the crypto exchange against the Securities and Exchange Commission (SEC) which filed the case in the first place back in 2020.

That was the first win seen by the crypto community in the several legal actions against the crypto sector by SEC.

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In A Brief

  • SEC lawsuit against Ripple aims at making the crypto exchange stop offering its XRP token. Their reason is that XRP is a Security and needs more regulation. However, SEC’s intentions were disorganized yesterday.
  • As per the information filed yesterday July 13, Judge Torres has made a summary judgment that favored Ripple Labs. The ruling states that Ripple’s XRP token isn’t a security. However, it is about programmatic sales on digital asset platforms.
  • SEC also got a partial win of its own when the federal judge also ruled that XRP will be considered as a security when it is sold to institutional investors. But that is when it meets the set conditions of the Howey Test.
  • The CEO of Ripple Labs, Brad Garlinghouse declared that the ruling was a “huge victory for Ripple” as well as the entire United States Crypto sector. This victory caused the value of XRP to soar. Even the exchange launched an airdrop to commemorate its victory.
  • In addition, the largest United States cryptocurrency exchange Coinbase declared that it will allow XRP to trade on its platform.

Crypto Outlook Today

Due to the latest victory, the price of XRP has increased from its former $0.45 to $0.7802 as of the time of this writing. Its market cap also increased by 65.13% and an increase in trading volume by 1723.20%.

Similarly, Bitcoin price today shows an increase to $31,217.72 with an increase in market cap by 2.17% and an increase in trading volume by 78.57%.

Ethereum price today is at $1,998.19, with an increase in the market cap by 6.18% and an increase in volume by 113.08%.

In addition, Tether trades at $1.00, with an increase in market cap by 0.10%, and an increase also in volume by 140.67%.




















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