The SEC's decision not to appeal in the Ripple case has resonated throughout crypto markets, potentially providing clearer regulatory guidance.
Ripple's Legal Journey from 2020 to Present Win
Ripple's legal battle with the Securities and Exchange Commission (SEC) started in December 2020. The SEC alleged Ripple conducted an unregistered securities offering valued at $1.3 billion. Ripple CEO Brad Garlinghouse announced the SEC would not pursue its appeal, marking a victory for the company.
XRP Price Jumps 13% Post-SEC Decision
XRP's price surged by 13% within 24 hours of the announcement. Market participants see this as a signal of increased confidence in Ripple's future. Trading volume has also skyrocketed, reflecting heightened investor interest. Financial and regulatory stakeholders are evaluating the political and business implications.
July 2023 Ruling Set Stage for Ripple's Success
This case resembles past SEC actions against crypto companies. July 2023 saw a partial victory for Ripple, with a judge ruling XRP retail sales were not securities violations. Experts predict this outcome will positively influence legislative agendas and encourage institutional investments as legal ambiguities shrink.
Ripple's win over the SEC could set an important precedent, influencing the development of the entire crypto industry and fostering a clearer regulatory environment.
