XRP
The price of Ripple XRP was 58% higher over the last week after a court ruling said it was “not necessarily” a security.
In the latest ruling, a federal judge in New York said that the XRP token is “not necessarily a security on its face,” and added that XRP was only deemed a security when Ripple sold it to institutional buyers years ago, but not to the public. Stuart Alderoty has been a commentator on the case. tweeted:
A huge win today – as a matter of law – XRP is not a security. As a matter law, sales on exchanges do not constitute securities. Executive sales are not securities. Other XRP distributions – to developers, to charities, to employees are not securities.
The Ripple Team has been in a court fight with the Securities and Exchange Commission since December 2021. The regulator claimed that XRP was a security, and that executives were involved in an illegal sale of these securities.
If the company loses the case it will likely be fined heavily and the price of XRP has been affected for more than two year. Ripple’s case could be resolved positively by the latest comments, as it has been hampered in its growth due to a lack development.
