|

Breaking: Ripple records landmark win against the SEC as court rules XRP is not a security except...

A federal judge has ruled that the Ripple Labs token (XRP) is not a security when sold to the general public but ONLY when sold to institutional investors. The ruling marks a partial win for the SEC and a clear win for Ripple holders.

New York District Judge Analisa Torres ruled that Ripple’s XRP is not a security and that the SEC’s motion that it is, is denied in part. 

Institutional sales of XRP could be classed as securities. 

The rule is considered a landmark decision that could have massive implications for the industry. Experts believe that Ripple's win has set the stage for other assets and cryptocurrencies labeled as securities by the SEC to defend themselves and recover.

Ripple price exploded on the news, shooting up 30% from a low of 0.46926 to a high of 0.64888 as investors reacted to the news. The altcoin hit a peak of $0.94 on Binance as market participants reacted to the news.

Author

More from FXStreet Team
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Pi Network Price Forecast: Bearish streak nears critical support trendline

Pi Network (PI) edges lower on Friday for the third consecutive day, approaching a local support trendline. The on-chain data suggests an increase in supply pressure as Centralized Exchanges (CEXs) experience a surge in inflows.

Top Crypto Gainers: Zcash rallies as MYX Finance, Dash test critical EMA levels

Zcash , MYX Finance, and Dash are the top-performing assets in the top 100 cryptocurrency list over the last 24 hours. The privacy coin leads the rally while MYX and DASH struggle to clear their 100-day Exponential Moving Averages (EMA).

XRP slides amid record on-chain activity, mixed technical signals

Ripple is trading under pressure at the time of writing on Thursday, after bulls failed to break the short-term resistance at $2.22. The reversal may extend toward Monday’s low of $1.98, especially if risk-off sentiment persists in the broader cryptocurrency market.

Aster lags recovery as perpetual DEX releases new roadmap on infrastructure, utility and ecosystem 

Aster is consolidating above $1.05 at the time of writing on Thursday, reflecting lethargic sentiment in the broader cryptocurrency market. The token native to the perpetual DEX had recovered from Monday's low of $0.88 but stalled around $1.08 on Wednesday.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: BTC steadies as data suggests local bottom

Bitcoin (BTC) hovers around $91,000 at the time of writing on Friday, extending its recovery by 5% so far this week. On the institutional front, a modest outflow from US-listed spot Bitcoin Exchange Traded Funds (ETFs) marks a slowdown from previous weeks and signals a reduction in selling pressure, further supporting BTC’s recovery.