Was XRP a security in SEC V ripple?

On July 13, Judge Analisa Torres handed down a long-awaited decision in SEC v. Ripple. Crypto enthusiasts immediately began celebrating the opinion as holding that XRP, the Ripple token, was not a security. Columbia Law School HomeAboutContactSubscribeRSSEmailTwitter Search PreviousNext John C. Coffee, Jr.

What happened to XRP?

XRP, one of the largest cryptocurrencies by market capitalization, skyrocketed in mid-July. However, the digital asset has since fallen back to Earth, trading near 53 cents at time of publication, a bit more than its 48-cent mark prior to a landmark ruling from a federal judge involving Ripple, the company that uses XRP to fuel its business.

What happens if the SEC gets approval from Judge Torres?

However, if the SEC wins approval from both Judge Torres and the Second Circuit Court of Appeals to file the appeal, the circuit court may issue a stay on all proceedings until the appeal has been resolved. "We think that this cause would probably be stayed given the nature of the determination subject to appeal," he told CoinDesk.

How did XRP react to the SEC order?

The price of XRP did not seem to react much to the order itself, though it is down roughly 4% over the past 24 hours, according to CoinGecko. The SEC has a steep hill to climb in getting approval from Judge Torres, said ConsenSys Senior Counsel and Director of Global Regulatory Matters Bill Hughes.