BREAKING: Judge Gives Ripple MASSIVE Victory In SEC Lawsuit!• July 13, 2023 1:58 pm • Comments
Ladies and gentlemen, the day we have all been waiting for is here! Well, sort of. …
In my opinion, this is the entire substance of a ‘full’ victory, though it must be stressed that the lawsuit is not fully resolved yet.
Judge Torres recently ruled that XRP is not a security, in and of itself, and all secondary sales of XRP cannot be considered to be securities—they’re tokens. …However, initial sales of XRP to hedge funds and institutional clients represent unregistered securities sales.
It should be noted that the reason the sales to these institutional clients represent unregistered securities sales has nothing to do with the intrinsic properties of XRP, but, rather, the manner in which the sales were conducted.
This will set an enormous precedent for cryptocurrencies and digital assets in general. It also bears mentioning that XRP is now the only token with regulatory clarity.
The case will now move to trial on some of the SEC’s claims—though not the most pressing ones.
Crypto investors, speculators, and the XRP army celebrated the groundbreaking win.
— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) July 13, 2023
XRP is the first coin with Full Legal Clarity.
Congrats Ripple on winning the 'fake' lawsuit!
— Vincent Kennedy (@VincentCrypt46) July 13, 2023
The Ripple case should end the SEC vs Coinbase lawsuit.
— LBRY 🚀 (@LBRYcom) July 13, 2023
— Charles Gasparino (@CGasparino) July 13, 2023
Following the conclusion of the SEC vs. Ripple lawsuit, Jeff and I stated that it may be the quickest route to clarity.
We predicted that a settlement would not be reached.
We anticipated the case would progress to a summary judgment, with XRP…
— Chip – onthechain.io (@stephenchip) July 13, 2023
U.S. District Judge Analisa Torres, who is based in New York, on Thursday said the company’s $728.9 million of XRP sales to hedge funds and other sophisticated buyers amounted to unregistered sales of securities.
But Torres ruled Ripple’s XRP sales on public cryptocurrency exchanges were not offers of securities under the law, because purchasers did not have a reasonable expectation of profit tied to Ripple’s efforts.
Earn Your Leisure reports that “XRP’s price surged 16% following a favorable ruling for Ripple in its ongoing lawsuit with the Securities and Exchange Commission (SEC).”
As of the time of this writing the price has surged by roughly 30%.
XRP’s price surged 16% following a favorable ruling for Ripple in its ongoing lawsuit with the Securities and Exchange Commission (SEC).
Are you bullish on XRP? Comment down below pic.twitter.com/goR9QPhqam
— Earn Your Leisure (@EarnYourLeisure) July 13, 2023
Coin Telegraph added:
Within a matter of minutes after the news broke, the price of XRP has catapulted from $0.45 to $0.61. This puts the token up over 25% as of the time of this article’s publishing.
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