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- 📢 #Gate Square Writing Contest Phase 3# is officially kicks off!
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- 🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
Gate has surpassed 30M users worldwide — not just a number, but a journey we've built together.
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Ripple, which has been fighting legally with the US Securities and Exchange Commission (SEC) for years, got its first good news since 2020. Judge Analisa Torres in the SEC and Ripple case stated that the company's native token, XRP, is not a security.
While Ripple counted the statements made by Judge Torres as a victory, XRP got rid of the securities label years later.
SEC comment from Ripple CEO
Almost 24 hours after the court decision, Ripple CEO Brad Garlinghouse spoke about the SEC. Garlinghouse called the SEC "bullies" the other day, after a partial victory in the ongoing legal process.
Ripple pocketed its partial victory after Judge Analisa Torres, who took the case last Thursday, did not consider XRP a security. After the good news on behalf of the Ripple front, investors flocked to XRP.
However, with the announcement of the decision, XRP turned its direction up and added value for hours.
XRP, which was traded at $ 0.47 before Judge Torres's statements, increased by 98 percent with the good news, reaching up to $ 0.93. Currently, XRP continues to find buyers at the levels of $ 0.71.
However, Garlinghouse told Bloomberg the other day that the SEC is now overbearing and is going after weak players who can't defend themselves properly.
As is known, the SEC accused Ripple of illegally collecting $1.3 billion through XRP sales in 2020. Last Thursday, the judge made a statement that years later, XRP was not a security when sold on the secondary market. In addition, the judge ruled that XRP would only enter a security cap when sold to institutional investors.
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