Technology
US Judge Rules XRP Is Not a Security – Crypto News
In what is considered one of the most significant Summary Judgments in the Web3.0 ecosystem thus far this year, Judge Analisa Torres has declared that XRP is not a security.
Great Day for XRP, Ripple, and the Community
According to initial updates from the Press, Judge Torres declared that the programmatic sales made by American blockchain payments firm Ripple Labs Inc, as well as the other distributions, and Larsen’s and Garlinghouse’s sales of XRP, do NOT constitute investment contracts.
This verdict brings significant relief to the community, especially early XRP holders who had been following the Ripple case with the United States Securities and Exchange Commission (SEC) since the market regulator sued the company for $1.3 billion in December 2020.
The news is already fueling a parabolic run in the price of XRP which is changing hands at a price of $0.5995, up by more than 27.16% at the time of writing. Experts had already predicted that the declaration of XRP as a non security can help it pare off the deep losses it has accrued since the lawsuit started and through the crypto winter.
This is a developing story, please check back for updates
The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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