XRP Trading Restored: Judge Rules SEC Suit Not Securities Sales
• Exchanges Coinbase, Binance.US, Kraken, Bitstamp, and Gemini have all restored trading support for XRP after a critical ruling in the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple Labs.
• Judge Analisa Torres ruled that Ripple’s automated open-market sales of XRP did not constitute as securities sales; however, direct sales of XRP to institutional participants did represent a securities offering.
• The court plans to issue a separate order setting a trial date for Ripple and the SEC “in due course” and XRP is currently trading at $0.720.
XRP Trading Support Restored After Critical Ruling
Exchanges Coinbase, Binance.US, Kraken, Bitstamp, and Gemini have all restored trading support for XRP following Thursday’s groundbreaking ruling in the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple Labs. Top US crypto exchange Coinbase re-listed XRP on Thursday, followed by Binance.US a day later with other exchanges soon following suit after the critical ruling was issued by Judge Analisa Torres .
Judge Rules On SEC Lawsuit Against Ripple
The SEC alleged Ripple sold XRP as an unregistered security; however Judge Analisa Torres sent shockwaves through the crypto ecosystem when she ruled that the San Francisco payment company’s automated open-market sales of XRP did not constitute security sales but their direct sales of XRP to institutional participants did represent a securities offering instead . The court plans to issue a separate order setting a trial date for Ripple and the SEC “in due course” .
XRP Price Update
XRP is currently trading at $0.720 at time of writing , up nearly 52% since Thursday morning but down 9.62% in the past 24 hours .
Ripple Lawsuit Sparks Interest
Thursday’s ruling has sparked much interest from traders , investors , and enthusiasts alike as it serves as an important milestone in determining whether or not Ripple will be able to continue its operations without facing any legal repercussions from the SEC : something many people are eagerly awaiting given its potential implications on overall market sentiment towards cryptocurrencies such as Bitcoin and Ethereum .
Conclusion
The news of exchanges restoring support for XRP has been welcomed by many crypto enthusiasts who were eager to see how this crucial case would develop over time . With more clarity now provided on what constitutes security offerings , traders can now move forward with confidence knowing that their investments are safe from any unforeseen legal repercussions coming from regulatory bodies such as the SEC .
