{"id":122003,"date":"2023-07-13T16:31:05","date_gmt":"2023-07-13T16:31:05","guid":{"rendered":"https:\/\/dripp.zone\/news\/ripple-wins-case-against-sec-as-judge-rules-xrp-is-not-a-security-crypto-news\/"},"modified":"2023-07-13T16:31:07","modified_gmt":"2023-07-13T16:31:07","slug":"ripple-wins-case-against-sec-as-judge-rules-xrp-is-not-a-security-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ripple-wins-case-against-sec-as-judge-rules-xrp-is-not-a-security-crypto-news\/","title":{"rendered":"Ripple wins case against SEC as judge rules XRP is not a security\n &#8211; Crypto News"},"content":{"rendered":"<div data-v-b01e4970=\"\">\n<p>Ripple Labs scored a victory in the United States District Court in the Southern District of New York on July 13 as Judge Analisa Torres ruled in favor of the company in a case brought forth by the Securities and Exchange Commission dating back to 2020.<\/p>\n<p>According to documents filed on July 13, Judge Torres has granted summary judgment in favor of Ripple Labs allowing that the XRP (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/xrp-price-index\">XRP<\/a>token is not a security.<\/p>\n<p>The SEC lawsuit sought to compel Ripple to stop offering its XRP token under the premise that XRP was a security and, thus, required additional regulation. <\/p>\n<p>Per court documents viewed by Cointelegraph:<\/p>\n<blockquote><p>&#8220;Defendants&#8217; motion for summary judgment is GRANTED as to the Programmatic Sales, the Other Distributions, and Larsen&#8217;s and Garlinghouse&#8217;s sales, and DENIED as to the Institutional Sales.&#8221;<\/p><\/blockquote>\n<p>Within a matter of minutes after the news broke, the price of XRP has catapulted from $0.45 to $0.61.  This puts the coin up over 25% as of the time of this article&#8217;s publishing. <\/p>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/xrp-price-faces-a-rocky-road-to-recovery-ahead-of-sec-s-ripple-lawsuit\">case against Ripple<\/a> has been ongoing since December 2020 when the SEC sued Ripple and its two chief executives, Brad Garlinghouse and Chris Larsen, over allegations the company was offering an unregistered security.<\/p>\n<p>Over the past three years, the case has had its fair share of dramatic intrigue, including <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/hinman-docs-xrp-sec\">the release of the &#8220;Hinman Documents&#8221;<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/ripple-ceo-garlinghouse-responds-to-sec-complaint-against-xrp\">ongoing defiance in the face of the SEC&#8217;s accusations<\/a> From Garlinghouse. <\/p>\n<p>Along with the palpable movement demonstrated by the XRP token pumping on the news, the overall sentiment across the crypto community appears to be one of jubilation. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"\/><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ripple Labs scored a victory in the United States District Court in the Southern District of New York on July 13 as Judge Analisa Torres ruled in favor of the company in a case brought forth by the Securities and Exchange Commission dating back to 2020. According to documents filed on July 13, Judge Torres [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":122004,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-122003","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/122003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=122003"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/122003\/revisions"}],"predecessor-version":[{"id":122005,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/122003\/revisions\/122005"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/122004"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=122003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=122003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=122003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}