### Ripple Labs achieved a significant victory as it emerged triumphant in a legal battle against the Securities and Exchange Commission (SEC). On July 13th, Judge Analisa Torres of the United States District Court ruled in favor of Ripple, stating that the XRP token is not a security.

The court's decision came as a result of the SEC's lawsuit, which aimed to compel Ripple to cease offering its XRP token, claiming it was an unregistered security requiring additional regulation. However, Judge Torres granted summary judgment in favor of Ripple Labs, allowing them to continue operating without the imposed restrictions. Notably, the ruling specifically favored Ripple on the Programmatic Sales, Other Distributions, and the sales conducted by Chris Larsen and Brad Garlinghouse, but not the Institutional Sales.



<blockquote className="twitter-tweet">This is is a huge win for Larsen, Garlinghouse and the XRP community. 1. While the court rules that some of Ripple&#39;s &quot;Institutional Sales&quot; of XRP were investment contracts and thus, the sale of unregistered securities, 2. Ripple&#39;s sales of XRP to &quot;Programmatic Buyers&quot;… <a href="https://t.co/FWSYgO8x3q">https://t.co/FWSYgO8x3q</a>— MetaLawMan (@MetaLawMan) <a href="https://twitter.com/MetaLawMan/status/1679518108220895233?ref_src=twsrc%5Etfw">July 13, 2023</a></blockquote> 



The price of XRP had a meteoric rise almost instantly after the news broke, rocketing from $0.45 to $0.88, an increase of almost 62% at the time of reporting. Additionally, many cryptocurrency exchanges have begun relisting the token.



The legal battle between Ripple and the SEC began in December 2020 when the regulatory body sued Ripple and its executives, alleging the sale of unregistered securities. Throughout the case, several intriguing events unfolded, including the release of the "Hinman Documents" and public defiance from Ripple's CEO, Brad Garlinghouse.



The crypto community received the court's ruling with jubilation and widespread optimism. Ripple's win is seen as a significant milestone, with potential implications for the broader regulatory landscape surrounding cryptocurrencies. As Ripple celebrates this legal triumph, it marks a significant step forward for the company and its vision of revolutionizing cross-border transactions.

Ripple Labs achieved a significant victory as it emerged triumphant in a legal battle against the Securities and Exchange Commission (SEC). On July 13th, Judge Analisa Torres of the United States District Court ruled in favor of Ripple, stating that the XRP token is not a security.

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