SEC Alleged Ripple Sold XRP as Unregistered Security, Judge Rules Otherwise

• Top Crypto Exchanges Restore Support for XRP After Judge Issues Critical Ruling in SEC’s Ripple Lawsuit
• SEC Alleged Ripple Sold XRP as Unregistered Security, but Judge Rules Automated Sales of XRP did not Constitute Security Sales
• XRP Up Nearly 52% Since Thursday Morning, Court Plans to Issue Separate Order Setting Trial Date for Ripple and the SEC

Crypto Exchanges Restore Support For XRP

Top US crypto exchanges Coinbase, Binance.US and other top crypto exchanges have restored trading support for XRP following Thursday’s groundbreaking ruling in the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple Labs. Kraken and Bitstamp also re-listed the asset on Thursday, and Gemini said it was “exploring the listing of XRP for both spot and derivatives trading.”

SEC vs Ripple Labs Lawsuit

The SEC had alleged that Ripple sold XRP as an unregistered security, but Judge Analisa Torres sent shockwaves through the crypto ecosystem on Thursday when she ruled that the San Francisco payment company’s automated, open-market sales of XRP did not constitute security sales. However, she did side with the SEC in its assertion that Ripple’s 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.”

XRP Price Action

XRP is currently trading for $0.720 at time of writing and has seen a nearly 52% increase since Thursday morning despite being down 9.62% in the past 24 hours.

Industry Announcements

Binance Blockchain Week brings some of Web 3.0’s best features to Istanbul July 14th while Spacemesh launches after five years of research with Huobi saying investors should be cautious when investing in cryptocurrencies or digital assets due to their high risk nature.


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