Man oh man have I been waiting for this. I mean, the XRP court case brought by the SEC seemed to be a bunch of BS from the start. I had written in earlier posts about how I thought XRP and all, or at least most cryptocurrencies are/will be commodities, not securities.

Well, in this article it talks about a recent partial decision regarding Ripple XRP https://www.fool.com/investing/2024/08/08/is-the-ripple-ruling-a-turning-point-for-crypto/ and how this win makes people think XRP will win the case. 

On the 7th of August, 2024 the court ordered Ripple to pay 125 million in civil penalties and to stop selling unregistered securities to institutional investors.

Now,  I assume that the SEC will challenged the ruling, and this will go to appeal. However, it appears that overall XRP has been declared a commodity to investors in the public domain. THINK ABOUT THAT.  XRP is a commodity, and with the SEC recently retracting it's request to classify many cryptocurrencies as securities (article here: https://cointelegraph.com/news/sec-drops-ruling-request-security-token-claims-binance-lawsuit) it appears that the security commodity debate as far as cryptocurrencies are concerned is largely over.

I have written in the past my reasons for believing this to be true, and it appears that prediction is coming true.

Now, on to my thoughts about the implications of this. First, XRP was up nearly 30% since the ruling. However, the bigger picture of all of this is that when the next bull run comes, there are less restrictions and concerns about what cryptocurrencies are, what they will be, and if there are existential threats to them. With this case all but being resolved, it puts to be a major existential threat.

I am (kind of lucky due to my timing and introduction into cryptocurrencies) already in profit at nearly 100% even after the bloodbath of this past Monday.

I am out of my seat excited about this ruling and the future of cryptocurrency. Here's to the future!!!!!