The crypto market reacted with enthusiasm to the court decision on the US Securities and Exchange Commission (SEC) lawsuit against Ripple. The price of XRP immediately jumped to $0.59 and continues to rise.
On the evening of Thursday, July 13, it became known about the ruling of the district court, according to which the “software sale” and similar distribution of the XRP token is not an investment contract and, therefore, the SEC unreasonably filed claims against Ripple Labs. However, at the same time, Judge Analisa Torres (Analisa Torres) recognized that the so-called institutional sale of the Ripple coin violated federal law, since it was an unregistered offer and sale of investment contracts.
The decision was made in the order of summary proceedings, which, however, has been dragging on since 2020. The court’s verdict is not final, Torres made a reservation: other aspects that go beyond the recognition of the violation of the securities law by Ripple Labs can be considered by a jury.
The crypto community and the digital asset market reacted enthusiastically to the news of a big victory for the industry and the end of a three-year legal epic. The market value of XRP soared by more than 70% in a few hours, reaching close to $0.82 by the end of the day.
Earlier, the largest cryptocurrency exchange Binance announced the delisting of Ripple Labs XRPUP and XRPDOWN assets. However, amid the market recovery, on July 13, Coinbase announced the relisting of XRP. And the Canadian crypto exchange BitBuy secretly added trading pairs with the XRP coin even before the court decision – a year and a half after the delisting.
Bitcoin and Ethereum, against the backdrop of news from the court, began to grow in price, reaching at some point the levels of $31,750 and $1,997, respectively. The excitement is caused, among other things, by the hope for the strength of American case law and the expectation that most digital coins will be recognized as non-securities .
On the eve of the district court of New Hampshire refused to explain whether the LBC token of the LBRY decentralized platform, traded on the secondary market, is considered a security or not.
