Ripple Wins Major Legal Victory as XRP Declared Not a Security on July 13th

Jul 13, 2024, 04:54 AM

Ripple has achieved a significant legal victory in its lawsuit against the U.S. Securities and Exchange Commission (SEC), with the court ruling that XRP, Ripple's cryptocurrency, is not a security. This landmark ruling, delivered by Judge Torres on July 13th, sets a positive legal precedent for the entire cryptocurrency industry. The decision marks the one-year anniversary of the initial summary judgment, which was celebrated by Ripple's Chief Legal Officer as a 'huge win'. Following the ruling, XRP's price surged nearly 100% in a single day.