Home Breaking News, Ripple Just Won The case Against the US SEC, XRP Skyrockets 
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Breaking News, Ripple Just Won The case Against the US SEC, XRP Skyrockets 

Damien Fisher Crypto Journalist Author expertise
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The case between the US SEC and Ripple Labs has finally endedJudge Analisa Torres of the United States District Court in the Southern District of New York ruled in favor of Ripple.

The ripple community has waited for the summary judgment to declare XRP a security or cancel the SEC’s claims for some months now. As of today, July 13, Judge Torres finally declared XRP a non-security, sending the coin’s price skyrocketing to unimaginable heights.

Ripple Community Celebrates After the Summary Judgment

There have been many speculations and predictions regarding the final judgment in the SEC Vs. Ripple case. Many notable figures forecasted a win for Ripple, while some critics countered the idea. Today’s summary judgment has finally ended the 3-year long legal battle in favor of Ripple. 

According to sources, the court documents stated;

Defendants’ motion for summary judgment is GRANTED as to the Programmatic Sales, the Other Distributions, and Larsen’s and Garlinghouse’s sales, and DENIED as to the Institutional Sales.

After the ruling, the Ripple community started jubilating, with many people asking all the crypto exchanges to relist XRP. 

Ripple CEO Brad Garlinghouse tweeted about the victory.

Also, the pro-XRP lawyer John E Deaton who has been actively involved in the case defending thousands of XRP holders shared the same opinion. 

A user posted that XRP has been relisted on TrustCapital. Saying, “ BOOM! The exchange snowball begins!

Deaton responded to the post, saying, One of many. Make no mistake: every exchange in the United States should relist XRP IN SOLIDARITY with today’s decision.

He also mentioned Gemini exchange, Coinbase, Crypto.com, Kraken, etc., implying they should relist XRP. Meanwhile, the giveaway indicated in Garlinghouse’s post is unconfirmed for now, as some users complain they’re getting an error message. 

Also, Ripple CLO has clarified the ruling stating the only thing the Court found constitutes an investment contract is past direct XRP sales to institutional clients. There will be further court proceedings only on these institutional sales per the Court’s order.

XRP Skyrockets Within A Few Hours Following the Ripple Win

Ripple

As the crypto community celebrates, the price of XRP has skyrocketed to unimaginable heights. Within one hour after the news broke, the coin doubled its price earlier today. 

At the time of writing, XRP trades at $0.8274, representing a 76.34% growth in 24 hours. The trading volume is currently up by 1070%, while the market cap has soared by 75.83%. Whether the price increase will continue depends on factors such as XRP utility, macros, network developments, investor sentiment, etc

Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
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Damien Fisher Crypto Journalist

Damien Fisher Crypto Journalist

Damien Fisher is a seasoned crypto news writer with a relentless curiosity for blockchain technology and cryptocurrencies. With a career spanning over a decade, Damien has solidified his position as a trusted authority in the industry. Besides contributing insightful articles to TechReport, he also lends his expertise to reputable sites like Invezz and CryptoCoin.News. Through his work, Damien continues to provide valuable information to readers, keeping them informed about the latest developments and trends in the ever-evolving world of cryptocurrencies. His passion for the subject and dedication to accuracy make him a standout figure in the crypto news space.

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