Blog / Crypto World / Ripple Won The Case Against The Sec

Ripple Won the Case Against the SEC

Jul 14, 2023
2 min read

The famous crypto company obtained a notable win in the US District Court on July 13. Judge delivered a partial ruling in favor of the firm litigating against the SEC.

As per the docs, the summary decision was granted in favor of Ripple, declaring that the XRP isn’t considered to be a security. However, this statement specifically applies to the token's sales on crypto exchanges.

Apparently, the SEC also grabbed a piece of victory. The judge determined that XRP qualifies as a security when it’s sold to institutional investors, meeting the requirements outlined in the Howey Test.

Nevertheless, CEO of the winner corporation is optimistic concerning the crypto innovation future in the country:

The SEC's objective in the suit was to make Ripple pause offering its XRP token based on the argument that it constituted a security and, consequently, required additional regulatory measures.

Following the team's triumph in the court case, XRP has now risen to the position of the fourth-largest crypto in terms of market capitalization. In a few hours after the judgment, the market cap of the coin experienced an astonishing surge of $21 billion, reaching a new annual peak of $46 billion:

© CoinMarketCap

Not long ago we’ve observed the cases of Binance and Coinbase, and now seeing XRP winning the court case strengthened the crypto community in their belief in the possibility of beating the SEC.  

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