In July 2023, Judge Analisa Torres ruled that XRP is not a security when traded in secondary marketplaces. However, the debate over XRP's legal status continues in the cryptocurrency ecosystem.

Need for more XRP securities clarity

The U.S. SEC has filed its Form C in the Ripple lawsuit, raising questions among community members regarding XRP's securities status. Ripple's CLO Stuart Alderoty provided an analogy, comparing the trade of XRP to Taylor Swift concert tickets, indicating that the secondary market does not make them securities.

Ongoing impact on Ripple

Although Ripple is not the issuer of XRP, this digital currency plays a crucial role in the Ripple Labs ecosystem. XRP is utilized as a bridge currency for cross-border settlements, remaining a key focus in Ripple’s payment ecosystem.

Long road ahead

With the SEC's appeal in progress, Ripple has been confirmed to file its response soon. The prolonged lawsuit may lead to further instability for XRP, particularly regarding price growth. At the time of writing, the coin is down by 0.6% to $0.5469, according to CoinMarketCap data.

Regardless of the ongoing legal battles, Ripple continues to adapt and work toward clarity regarding its product. The final decision may significantly affect the entire crypto industry.