Ripple Wins Case Against SEC: XRP is Not a Security

• Ripple wins case against SEC
• Judge rules that XRP is not a security
• XRP price surges over 70%
• Ripple CTO warns about increase in XRP scams

In a recent development, Ripple won its case against the SEC as the judge ruled that XRP is not a security . This is a huge victory for Ripple and has led to the reintroduction of XRP on major cryptocurrency exchanges . The price of XRP surged more than 70%, going from $0.47 to $0.82 in one day.

XRP is Not a Security 

The entire crypto industry has been watching the lawsuit between the SEC and Ripple Labs, which created the cryptocurrency XRP. While Ripple did not violate securities laws when selling XRP on exchanges, a judge ruled that the company did violate these laws when selling the token to institutional investors.

The SEC claimed that many cryptocurrencies are in fact securities and therefore must be registered with the SEC and fall under the SEC’s purview. However, most crypto advocates believe that cryptocurrencies are currencies and therefore should be regulated by the Commodity Futures Trading Commission. This case has been closely watched by the entire sector .

Ripple CTO Warns About Increase in XRP Scams 

Amidst the hype surrounding Ripple’s victory against the SEC, Ripple’s CTO has warned about an increase in XRP scams.

Ripple’s victory against the SEC is a major development for the company and for the cryptocurrency industry as a whole. The ruling that XRP is not a security has led to its reintroduction on major cryptocurrency exchanges and a surge in its price. However, with this victory comes a warning from Ripple’s CTO about an increase in XRP scams.