XRP Security Case Making History With Ripple’s Huge Court Win: This Week’s Recap

The past seven days will go down in history as the week when Ripple won a landslide court victory against the United States Security and Exchange Commission. In fact, the news is so important that it is difficult to talk about anything else. However, it is notable that the entire market skyrocketed following the development, and BTC is finally trading above $31K, while ETH is above $2K.

Now, let’s look at some specifics.

More than three years ago, the SEC filed a lawsuit against Ripple alleging that the company made unregistered securities sales, essentially claiming that its XRP token constituted a security. . More specifically, the agency also alleges that the secondary sale of XRP also constitutes an investment contract, prompting several cryptocurrency exchanges to delist it.

Over the past few years, this has taken a heavy toll on XRP as investors stayed away in anticipation of some sort of resolution. And while the case is far from over and headed to trial, Ripple scored a resounding victory this week.

US Judge Analisa Torres ruled that the secondary sale of XRP is not an investment contract. This had an immediate impact on the entire industry as other altcoins named in various SEC filings may also be off the hook. Many exchanges that previously delisted XRP quickly re-listed it.

The coin surged by over 70% in the hours following the decision.

This news also shook the entire market. Bitcoin is up 3% in the last 7 days, ETH – 7%, BNB – 9%, ADA – 22%, SOL – 31.7%, MATIC – 26%, etc. It is worth noting that many of these (except ETH) have been designated securities by the SEC on previous occasions.

In any case, much remains unresolved when it comes to the confrontation between the cryptocurrency industry and the US Securities and Exchange Commission, but it is an indisputable fact that this week’s decision was a major victory for the former.

market data

Market Cap: $1,182B | 24h Vol: $36B | BTC Dominance: 44.1%

BTC: $26,922 (+1.2%) | ETH: $1,881 (+3%) | BNB: $304 (-0.6%)

This Week’s Crypto Headlines You Can’t Miss

Ripple’s secondary sale of XRP is not an investment contract: judge rules after more than 3 years of legal battle Judge Analisa Torres has ruled that the secondary sale of XRP tokens is not an investment contract, giving Ripple a major victory in a legal battle that has dragged on for more than three and a half years. However, the story is not over yet.

XRP price surges over 70% as judge rules in favor of Ripple in SEC case. The price of XRP skyrocketed, surging by over 70% in a matter of hours. This comes shortly after a US court ruled that the secondary sale of tokens is not an investment contract, seriously undermining the country’s Securities and Exchange Commission position.

Ethereum network almost twice as busy as bitcoin: data. According to a recent report, the Ethereum blockchain is almost twice as busy as Bitcoin. The above conclusion takes into account the daily transactions, in which the total Ethereum earnings are close to one million.

Binance turns six: The journey so far through the eyes of CEO Changpeng Zhao. The world’s largest exchange by trading volume turns six this week. Here’s what its CEO and one of the most prominent figures in the industry – Changpeng Zhao – had to say about it.

Ripple’s partial victory in the XRP case fueled the alt rally as PoS coins impressive gains. At least in part, Ripple’s victory in court against the SEC was significant. It also led to a significant increase in the price of other PoS-based tokens such as BNB, ADA, SOL, MATIC, and COTI.

Ex-Celsius CEO Alex Mashinsky arrested, SEC files lawsuit against Celsius (report). Alex Mashinsky, the former CEO of Celsius Network, was arrested earlier this week. The SEC has filed a lawsuit against him and the company. However, Mashinsky was later released under $40M bail.

chart

This week we have chart analysis for Ethereum, Ripple, Cardano, Binance Coin and Solana – click here for the full price analysis.