{"id":81676,"date":"2023-07-13T19:27:38","date_gmt":"2023-07-13T16:27:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81676"},"modified":"2025-09-12T00:23:42","modified_gmt":"2025-09-11T21:23:42","slug":"ripple-wins-case-against-the-sec-as-xrp-jumps-24-in-an-hour","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ripple-wins-case-against-the-sec-as-xrp-jumps-24-in-an-hour\/","title":{"rendered":"Ripple wins case against the SEC as XRP jumps 24% in an hour"},"content":{"rendered":"<p>The Southern District of New York Court <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nysd.551082\/gov.uscourts.nysd.551082.874.0.pdf\" title=\"reached the conclusion\">reached the conclusion<\/a> that programmatic sales and other distributions of Ripple&#8217;s XRP token do not constitute offers or sales of investment contracts.<\/p>\n<p><!--more--><\/p>\n<p>Judge Analisa Torres issued a ruling in favor of the California blockchain company in a case <a href=\"https:\/\/u1f987.com\/en\/news\/sec-files-suit-against-ripple\">ongoing since 2020<\/a>. In the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> lawsuit, it was alleged that for seven years Ripple sold unregistered securities in the form of XRP tokens to retail investors.<\/p>\n<p>However, according to the court&#8217;s decision, the sale of coins to large industry players violated U.S. securities laws.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>The SEC&#8217;s motion for summary judgment was granted in relation to institutional sales, as stated in court documents.<\/cite><\/p><\/blockquote>\n<p>Ripple CEO Brad Garlinghouse expressed optimism about future crypto innovations in the United States.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Garl.webp\" alt=\"Garl\" class=\"wp-image-211540\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/twitter.com\/bgarlinghouse\/status\/1679520607837253639?s=20\">Twitter<\/a>.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;In December 2020 we said we were on the right side of the law and would stay on the right side of history,&#8221; he wrote.<\/cite><\/p><\/blockquote>\n<p>XRP prices rose on the back of the outcome.<\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"forklog\/32018\" data-width=\"100%\"><\/script><\/p>\n<p>Prices of other crypto assets also rose noticeably.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/coingecko-23.webp\" alt=\"coingecko-23\" class=\"wp-image-211538\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.coingecko.com\/en\/all-cryptocurrencies\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>Earlier in the Ripple v. SEC case, the court <a href=\"https:\/\/u1f987.com\/en\/news\/xrp-climbs-7-after-publication-of-statements-by-former-sec-official\">disclosed documents<\/a>, relating to the 2018 speech by former regulator William Hinman.<\/p>\n<p>In a 2018 speech, the former director of the agency&#8217;s corporate finance division stated that for certain reasons Bitcoin and Ethereum are not securities.<\/p>\n<p>Ripple management welcomed Hinman&#8217;s statements, expressing resolve to win the case.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Southern District of New York Court concluded that programmatic sales and other distributions of Ripple&#8217;s XRP token do not constitute offers or sales of investment contracts.<\/p>\n","protected":false},"author":1,"featured_media":81677,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1162,112,128,26],"class_list":["post-81676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-court-cases","tag-ripple","tag-sec","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=81676"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81676\/revisions"}],"predecessor-version":[{"id":81678,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81676\/revisions\/81678"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/81677"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=81676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=81676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=81676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}