Earlier in their lawsuit SEC claimed that the company Ripple for seven years sold unregistered securities to retail investors. Recall that, the litigation has been ongoing since 2020 and throughout the period, there has been a lot of intrigue in the case. The court released documents from a former SEC director to confirm the facts of Ripple management’s disagreement with the SEC’s allegations.
The story ended yesterday, on 13 July the court ruled and ordered that the sale of Ripple XRP tokens on exchanges does not fall under securities investing.
On the back of this positive news, the XRP token rose to its highest level since March 2022, reaching $0.93. At the time of publishing this article, the altcoin’s exchange rate is $0.78.