- Ripple’s success in the XRP vs. SEC lawsuit solidifies XRP as a non-security.
- It is now widely accepted that the decision of the court was a good one. “Law of the Land,” Positively impacts XRP’s market position.
After the countdown Ripple is finally revealed as the winner of the XRP case, according to a CNF article Ripple Vs. SEC: 14 Day Deadline for XRP Case. big winner in the XRP vs. SEC case, with non-security status becoming ‘Law of the Land’.
Collin Brown congratulated XRP owners via his tweet as Judge Torres XRP verdict is now official recognized. “Law of the Land.”
🚨BÄÄÄÄÄÄÄM! 🚨
The XRP ruling of Judge Torres is now officially recognized as “Law of the Land”!
🎉 Congratulations! #XRP Holders! 🎉 pic.twitter.com/Rk3asM2BxM
— Collin Brown (@CollinBrownXRP) July 1, 2024
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.
The Courts see right through the SEC’s inconsistent theories of law. Binance’s ruling last night may be long but it is worth reading. https://t.co/wRRSUNSr59 pic.twitter.com/EXVrpZ6eS6
— Stuart Alderoty (@s_alderoty) June 29, 2024
Alderoty stated in another comment,
The SEC may have tried to confuse the issue with their inconsistent legal theories but the courts can see through it. Binance’s ruling last night may be long, but it is worth reading.
Although the SEC created confusion with its inconsistent arguments in the court, the SEC’s tactic was evident. The recent Binance court ruling was not only long but also very informative.
Market Impact of XRP’s Victory
Ripple’s victory over the SEC is positive. The Ripple price (XRP) was at the time this post was published. $0.4781 With an increase in 0.05% In the last day 0.02% In the last week.
As CNF reports, this development puts XRP in a stronger market position than when XRP’s price stayed below the 50-day EMA and 200-day EMA. reported Mid-June. The chart below shows the XRP exchange rate.
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