The Ripple Vs SEC lawsuit has been going on for over two years now and has created a lot of anticipation in the industry. Judge Analisa Torres’ recent ruling, deemed one of the most notable Summary Judgments in the Web3.0 ecosystem this year, states that XRP is not classified as a security. This decision holds great importance for the crypto industry, as it brings crucial regulatory clarity to digital assets.
As per the initial reports from the press, Judge Torres has ruled that the programmatic sales conducted by Ripple Labs Inc., along with other distributions, as well as the sales of XRP by Larsen and Garlinghouse, should not be considered investment contracts.
This decision brings relief to the community, particularly those who held XRP in its early stages and have been closely following the Ripple case against the SEC since the SEC filed a $1.3 billion lawsuit against the company in December 2020.
The news of XRP being declared a non-security has already sparked a significant surge in its price, with XRP currently trading at $0.5995, reflecting a remarkable increase of over 27.16% at the time of writing.
This development aligns with the predictions made by experts, who anticipated that such a declaration could help XRP in recovering from the substantial losses it incurred during the lawsuit and the cryptocurrency downturn commonly referred to as the “crypto winter.”
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