HomeNewsLandmark Ripple Verdict Ignites XRP Surge: Not a Security, Skyrockets 30%

Landmark Ripple Verdict Ignites XRP Surge: Not a Security, Skyrockets 30%

- Advertisement -
  • The long-standing dispute over Ripple’s XRP security status ends with US District Judge Analisa Torres ruling in favor of XRP.
  • The groundbreaking verdict could potentially disrupt the crypto industry, given the SEC’s enforcement-first policy towards digital asset regulation.

In a dramatic twist that has rocked the crypto industry, Ripple’s XRP was officially ruled not a security by US District Judge Analisa Torres, marking an end to the multi-year legal battle. The US Securities and Exchange Commission (SEC), which had previously taken legal action against Ripple’s executives over XRP’s security status, witnessed a significant setback as the court partially dismissed its motion against the digital asset.

The SEC had doggedly maintained its stance on XRP as a security, leading to an intense legal standoff with Ripple. With this historic ruling, a significant shift in the crypto regulatory landscape has unfolded. In a surprising move, Judge Torres ruled against the regulator’s claims, marking a turning point in the XRP saga.

- Advertisement -

Moreover, Torres identified the institutional sales of XRP by Ripple as securities. This verdict is poised to leave an indelible mark on the annals of cryptocurrency history, given that the SEC has hitherto followed an enforcement-first approach towards digital asset regulation. This could set a new precedent that influences a broad range of digital assets across the industry.

The ruling has ended the industry’s long anticipation, and it appears that a pivotal resolution has been reached with the judge’s landmark ruling today. Subsequently, the crypto market responded dramatically, with the XRP price skyrocketing by over 30% to hit $0.59. This surge demonstrates the market’s sensitivity to legal developments and emphasizes the critical role of regulatory clarity in shaping the future of digital currencies. Further details on the groundbreaking verdict are expected to unfold in the coming hours.

- Advertisement -

As the news of this landmark verdict began to spread across the globe, the cryptocurrency markets didn’t just take note – they roared in response. Ripple’s XRP, the digital asset now free from its contentious security status, witnessed a price surge unlike any other. In an explosive reaction to the ruling, XRP’s price skyrocketed by an astounding 30%, hitting $0.59 per token.

- Advertisement -
ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Kenny Williams is a crypto fanatic and writer with a deep passion for blockchain technology. He holds a degree in computer science from University of Texas at Austin and has been actively involved in the crypto world for over 5 years. Kenny spends most of his time researching and analyzing the latest trends and developments in the world of cryptocurrency. His expertise and insights have made him a respected voice in the industry, and his writing has been published in leading crypto publications. When he's not writing or researching, Kenny enjoys tinkering with technology and building his own blockchain projects. He's also an avid traveler and loves to explore new cultures and cuisines around the world.
- Advertisment -spot_img