Summary:
Ripple Bags Victory Against SEC, How Is The Market Reacting? On July 13, a court determined that the bulk of XRP sales do not qualify as securities transactions, giving Ripple a significant victory in its nearly three-year-long legal conflict with the SEC.
The industry may benefit from more transparency and regulatory stability thanks to Ripple’s legal victory. The decision of Judge Torres may set a legal precedent that makes it easier to define a framework for differentiating between securities and non-securities in the world of digital assets.
The XRP price increased by more than 75% to a 1-year high of $0.93 shortly after the decision was made public because market players saw it as a positive development for XRP. XRP is currently priced at $0.748, up 57% over the previous week. The decision has broad repercussions for the whole crypto industry, particularly for tokens like SOL, ADA, MATIC, and others that have dealt with similar SEC claims. At least 12 tokens would experience a direct impact as a result of SEC cases that they too, were subject to.Relief from investors spread to those assets as well.
According to CoinGecko data, SOL spot volumes on July 14 were 72% higher than daily averages for June, and ADA spot volumes were three times higher. Bitcoin trading volume increased impressively. The token was traded for more than $21 billion on the next day of the verdict.
Can the XRP growth impact the broader market revival and help both Bitcoin and Altcoins in gaining a bullish momentum? Tune into our discussion with Edward Farina and Mike as we discover how the crypto market sentiment will respond in the coming days following the partial victory verdict in Ripple Lawsuit.
