The Southern District Court of New York stated in response to the SEC’s case against Ripple: the SEC’s motion for certification of interlocutory appeal is denied, and the SEC’s request for a stay is denied as moot. Trial in this matter is set to begin on April 23, 2024.… pic.twitter.com/JKQgDVlYs7
— Wu Blockchain (@WuBlockchain) October 4, 2023
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Crypto: Ripple Scores Another Win – XRP Boosted by 5%
Wed 04 Oct 2023 ▪
3
min read ▪ by
Getting informed
▪
Crypto regulation
The crypto community continues to closely monitor the legal battle between Ripple and the SEC. The reason is simple: the outcome of this legal saga will be crucial for the cryptocurrency market. And precisely, some news could change the game definitively. At the very least, it hints at a victory for Ripple against the SEC.
Crypto, Ripple vs. SEC Case: Court Rejects Appeal
On July 13th, Judge Analisa Torres ruled in favor of Ripple in the case pitting the crypto company against the SEC. According to her, XRP is not a security. In a verdict issued on October 3rd, Judge Torres upholds her decision.
“The SEC failed to prove significant legal violations by Ripple,” she stated.
This clearly means that the federal court has rejected the SEC’s appeal. A decision welcomed as yet another victory for the Ripple camp.
News That Further Strengthens Ripple’s XRP Price
This new legal victory solidifies Ripple’s position in the crypto market. The proof is in the 5% increase in the price of XRP just a few hours after the announcement.
This rise signifies a regained confidence in this cryptocurrency. But that’s not all! It also demonstrates that Ripple is capable of thriving despite regulatory adversity. This further legitimizes the company. Moreover, the price increase has rekindled optimism about the future of XRP in global markets.
The SEC Still Has a Chance
Despite this apparent defeat, the legal battle between the SEC and Ripple is far from over. The main trial is set to begin in April 2024. It is also known that it will be Judge Sarah Netburn who will ultimately decide the case. So the SEC will (once again!) have the opportunity to present its case before the court.
While Ripple supporters are already celebrating this victory, the crypto industry remains on alert. The community eagerly awaits the 2024 trial, which could redefine crypto regulation. To be continued…
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Je m'appelle Ariela et j'ai 31 ans. J'oeuvre dans le domaine de la rédaction web depuis maintenant 7 ans. Je n'ai découvert le trading et la cryptomonnaie que depuis quelques années. Mais c'est un univers qui m'intéresse beaucoup. Et les sujets traités au sein de la plateforme me permettent d'en apprendre davantage. Chanteuse à mes heures perdues, je cultive aussi une grande passion pour la musique et la lecture (et les animaux !)
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