News View Non-AMP

Ripple vs SEC: New Documents Support XRP’s Security Status Amid Rising Enthusiasm

Published by
Qadir AK

The ongoing legal battle between Ripple and the SEC has captured the attention of the entire cryptocurrency industry. Excitement and anticipation continue to mount as the highly awaited release of the Hinman Speech-linked documents and emails draws nearer.

In a recent development, a lawyer supporting XRP has introduced new documents that provide evidence supporting the argument that XRP is not a security. These filings could potentially be used by Ripple to strengthen its case in the XRP lawsuit. 

Insights from Slack v. Pirani Case and Its Implications for Ripple’s XRP

Attorney Jeremy Hogan recently brought attention to a court filing from the Slack Technologies v. Pirani case, which is currently being considered by the U.S. Supreme Court. In this case, Slack puts forth the argument that the term “such security” pertains specifically to a security that is issued in accordance with a potentially deceptive registration statement. On the other hand, Pirani asserts that the term could encompass security that is not registered under a potentially misleading registration statement.

If the token was sold as an investment contract, Hogan said that this situation is comparable to that of Ripple’s XRP on the secondary market. In addition, he clarified that XRP loses its position as a “security” once the terms of the initial “contract” have passed.

According to court documents, a plaintiff must demonstrate that they purchased securities that were registered under a materially false registration statement in order to succeed under Section 11 of the 1993 Act. The Slack v. Pirani case may, if necessary, be included in Ripple’s brief on damages, according to a pro-XRP attorney. 

Ripple Vs XRP Lawsuit In Final Stage

The XRP lawsuit is still awaiting a summary judgment, but recent court rulings have favored the defendants. The growing excitement within the XRP community is evident in the significant increase in the XRP price.

Over the past 7 days, the price of XRP has risen by 11%. As of now, it is trading at an average price of $0.53. Notably, its 24-hour trading volume has surged by 135%, reaching $1.3 billion.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Forget PEPE – Influencer Pepe (INPEPE) is the Future of Meme Coins with Real Utility!

PEPE hopped its way to a $3.8 billion market cap, but its reign as a…

April 3, 2025

Ripple (XRP) Eyes $10 as Ruvi AI (RUVI) Captures Investor Attention with Huge Growth Potential During Presale Phase 1

Ripple’s (XRP) recent rally from $2.00 to $2.20 has sparked excitement among cryptocurrency enthusiasts. This…

April 3, 2025

How High Can Influencer Pepe Go? Expert Predictions for 2025-2030!

The crypto circus has a new ringmaster: Influencer Pepe (INPEPE). This Pepe-the-Frog-inspired token is making…

April 3, 2025

Crypto Bloodbath: Solana, XRP, and Dogecoin Take Double-Digit Hits, Is Your Altcoin Safe?

The global cryptocurrency market took a major hit today, with the total market capitalization falling…

April 3, 2025

Just In: Michael Saylor Says ‘There Are No Tariffs on Bitcoin’

The cryptocurrency market took a nosedive Thursday, with Bitcoin and its digital cousins feeling the…

April 3, 2025

US Markets Face One of the Biggest Crashes- Here’s How the Crypto Markets & Bitcoin Price May React

The US markets are facing one of the biggest crashes, with over 4% loss in…

April 3, 2025