How did the crypto community accept Ripple’s victory?
On July 13, 2023, a significant event for the crypto community took place – the popular Californian crypto project Ripple defeated the US Securities and Exchange Commission (SEC) in court. Recall that the regulator accused the company of illegally issuing securities in the form of XRP tokens. The trial has been going on since December 2020. We tell how the crypto market reacted to Ripple’s victory over the SEC.
Against the backdrop of the announcement of the court decision, the crypto market went up. In the top 100 most capitalized cryptocurrencies, XRP is expected to have the best result. The growth of the Ripple coin at the moment reached almost 100%. As of the time of writing the review, the cryptocurrency has somewhat corrected from its highs.
However, found thosewho were not satisfied with the growth results, as they were not able to compensate for all the losses that occurred on XRP during the period of regulatory pressure.
Members of the crypto community, for the most part, reacted positively to the news. The project team was quick to congratulate many popular crypto projects and famous representatives of the crypto industry, including crypto exchange Krakenfounder of Tron Justin Sun and CEO of Binance Changpeng Zhao.
Many people believethat Ripple’s victory will help issuers of other coins prove that their tokens are also not a security. Recall that in June 2023, the “black list” of SEC cryptocurrencies grew to 68 positions. To the opinion that now all disgraced coins are safe joined Gemini founder Cameron Winklevoss. In his opinion, Ripple’s victory in court proved that the SEC does not have enough rights to put pressure on the crypto market.
Representatives of Ripple, in turn, considerthat winning the Commission is an important step towards creating a transparent regulatory environment for the digital asset market in the United States.
There were also those who were not touched by Ripple’s victory over the SEC.
“Whether XRP is a security or not, this coin is still garbage. Only bitcoin is real,” analyst @sunnydecree wrote in his microblog.
Whether or not #XRP is considered a security, it’s still trash.
Only #Bitcoin is real.
— sunnydecree (@sunnydecree) July 13, 2023
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