XRP Is Not A Security, Token Pumps 30% Upon Court Ruling

One of the most important battles fought XRP and the cryptocurrency industry as a whole has finally come to a conclusion, in the best possible way.

In a landmark ruling, Judge Analisa Torres has granted summary judgment in favor of Ripple Labs, finding that its XRP token is not a security. The ruling ends a long-standing legal battle between Ripple and the Securities and Exchange Commission (SEC), which had accused the company of violating federal securities laws by selling XRP to investors without proper registration or disclosure.

The judge based her decision on several factors, including the nature and purpose of XRP, the degree of decentralization and utility of the network, and the expectations and behaviour of the buyers and sellers of the token. She concluded that XRP is not an investment contract that gives its holders any rights or claims to Ripple’s profits or assets, but rather a digital asset that serves as a medium of exchange and a store of value.

The ruling is a major victory for Ripple and the entire crypto industry, as it provides much-needed clarity and certainty on the regulatory status of one of the most popular and widely used cryptocurrencies in the world. It also sets a precedent for other cases involving similar tokens that may face scrutiny from the SEC or other regulators…