XRP Price Surges After Court Victory, Further Gains To Follow?
Sponsored
Sponsored
On July 13, Ripple triumphed significantly in the United States District Court for the Southern District of New York on the XRP case. Judge Analisa Torres ruled in favor of Ripple in a case originally initiated by the Securities and Exchange Commission (SEC) in 2020. In recently filed documents on July 13, Judge Torres issued a summary judgment, decisively supporting payment company Ripple and its claim over the SEC. The judgment affirms that XRP token sales made by the payment company, at the center of the case, are not classified as a security. The decision immediately impacted the XRP price,
Judge Torres rejected Ripple and the SEC’s joint motion to vacate the XRP injunction and reduce the penalty. The court said the settlement cannot override its final ruling and advised both parties to pursue an appeal if they want relief. Ripple may now be forced to continue the appeals process,…