Anniversary of Judge Torres’ Ruling on XRP
One year ago, Judge Analisa Torres ruled that XRP is not a security, a decision that had significant implications for Ripple and the cryptocurrency industry as a whole. Ripple’s chief legal officer, Stuart Alderoty, reflected on the impact of this ruling, emphasizing the importance of recognizing XRP as a non-security token.
Ripple’s Legal Battle with the SEC
For almost four years, Ripple has been in a legal dispute with the SEC over allegations of conducting an unregistered securities offering through XRP sales. Despite a partial victory declaring XRP not a security in 2023, the legal battle is ongoing, with the court now in the “remedies phase” to determine potential penalties or injunctions against Ripple.
XRP Price Surge and Market Recovery
Leading up to the anniversary, XRP’s value increased by 12.4%, surpassing the crucial $0.5 resistance level and driving the broader altcoin market recovery. Following a recent low, XRP’s price surged by 19% in the past week, reaching $0.5211, indicating a growing investor interest and potential for market resolution.
