Ripple’s triumph in the XRP vs. SEC case confirms XRP’s status as a non-security.
The court’s ruling, now established as the “Law of the Land,” has a positive impact on XRP’s position in the market.
In a surprising turn of events following the commencement of the countdown, as previously reported in a CNF article titled “Ripple vs. SEC Faces Crucial 14-Day Deadline as XRP Case Battle Heats Up,” Ripple emerges as the clear victor in the XRP vs. SEC case, with its non-security status now officially recognized as the “Law of the Land.”
Expressing his excitement via a tweet, Collin Brown congratulated XRP holders as Judge Torres’ ruling on XRP is now officially acknowledged as the “Law of the Land.”
BÄÄÄÄÄÄÄM!
Judge Torres’ XRP Ruling Now Officially Recognized as “Law of the Land”!
Congratulations to
#XRP
Holders!
pic.twitter.com/Rk3asM2BxM
— Collin Brown (@CollinBrownXRP)
July 1, 2024
Ripple’s Chief Legal Officer, Stuart Alderoty, also previously affirmed in a tweet that Judge Torres in SEC v. Ripple made the right decision – XRP, in and of itself, is not a security. Other courts are acknowledging her decision as consistent with the law of the land.
For all the SEC has done to muddy the waters with its inconsistent legal theories, the Courts are seeing right through them. The Binance decision last night is long but absolutely worth a read.
https://t.co/wRRSUNSr59
pic.twitter.com/EXVrpZ6eS6
— Stuart Alderoty (@s_alderoty)
June 29, 2024
Alderoty further commented that despite the confusion caused by the SEC’s inconsistent legal arguments, it was evident to the courts what the SEC’s tactics were. Additionally, even though the recent court decision involving Binance was lengthy, it provided valuable insights.
Market Impact of XRP’s Victory
The impact of the successful Ripple v. SEC case is favorable. At the time of writing, Ripple (XRP) is trading at $0.4781, marking an increase of 0.05% in the past day and 0.02% in the past week.
This development has elevated XRP to a stronger market position compared to mid-June, when XRP’s price consistently remained below both the 50-day and 200-day EMAs, as reported by CNF. See the XRP price chart below.
