Breaking: XRP wins major lawsuit, price explodes

Crypto payments giant Ripple has been embroiled in a lawsuit against the US Securities and Exchange Commission (SEC) since late 2020. Now the case is finally coming to a close. The judge has issued a ruling that seems to be very favorable for Ripple.

Judge positive to Ripple and XRP

This is what legal expert and former government employee James K. Filan, who is active in the XRP community, writes on Twitter. Judge Analisa Torres has her verdict issued, showing its belief that Ripple has not sold XRP as an unregistered security.

According to Filan, there will be another hearing in the courtroom in which the case will be decided. Still, we need to keep a close eye on things. XRP sales in the secondary market do not qualify as unregistered securities, according to Torres, but sales in the institutional markets may be. So the final decision has yet to be made. The blockchain analyst Wu Blockchain confirms this.

The judge has in fact left the issue open by partly agreeing with both Ripple and the SEC. That means a settlement will take place or a jury will make the final decision.

XRP price rises to a one-year high

Ripple is not completely out of trouble yet, but it is still very positive for the XRP price. The price has risen to its highest point since May 2022, representing a 30% increase in half an hour.

Ripple CEO Brad Garlinghouse writes on Twitter that he is grateful for all the help from Ripple’s supporters. The company has received quite a bit of help, such as from lawyer John Deaton. He has voluntarily joined the lawsuit on behalf of thousands of XRP investors to offer support to Ripple. For example, he has ensured that the lawsuit against LBRY turned out more positively than expected, which may also have helped Ripple.

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