The price of XRP is soaring and if you’re wondering why it’s because the long awaited ruling on the SEC VS RIPPLE case has arrived.
To keep it short and simple, Judge Torres ruled that XRP sold on exchanges is not a security that being a huge win for Ripple.
That basically means that if all XRP sold on public exchanges were legitimate and legal, XRP is not a security and therefore did not have to register with the SEC.
Judge Torres did however rule that some sales of XRP were to be considered a security such as sales to hedge funds and the like. There is more of a reason for those deals to be considered a security and will therefore be treated differently.
All in all this is considered a huge win for ripple as can be seen by the market’s reaction.