XRP Victory Day: Remembering Win That Vindicated Ripple
Analysis
Price Impact
HighThe ruling that xrp is not a security in secondary market transactions is a major victory for ripple and the broader crypto industry, significantly reducing regulatory uncertainty for xrp and potentially influencing future cases. however, the nuance that direct institutional sales *were* considered securities introduces some lingering complexity.
Trustworthiness
HighPrice Direction
BullishThis ruling significantly de-risks xrp for retail investors and exchanges, removing a major overhang that has suppressed its price and adoption. while institutional sales were deemed securities, the core finding for retail transactions is overwhelmingly positive.
Time Effect
LongThe long-term impact of this ruling is substantial, as it clarifies the regulatory status of xrp and sets a precedent for how other digital assets might be treated, potentially fostering greater adoption and innovation in the crypto space.
Original Article:
Article Content:
Cover image via stock.adobe.com The historic Torres ruling On the verge of a shutdown Advertisement Today marks the three-year anniversary of what the digital asset community calls "The XRP Victory Day". On July 13, Judge Analisa Torres of the U.S. District Court for the Southern District of New York delivered a landmark summary judgment in the SEC v. Ripple Labs case, fundamentally reshaping the cryptocurrency regulatory landscape. The historic ruling decisively declared that XRP, in and of itself, is not a security. HOT Stories Bitcoin (BTC), Dogecoin (DOGE), Shiba Inu (SHIB) and Zcash (ZEC) Price Analysis for July 13: Outliers Gain More Traction Top Tesla Investor Says Saylor Is Destroying Bitcoin The historic Torres ruling The legal warfare initiated by the U.S. Securities and Exchange Commission (SEC) in December 2020 sought to classify all sales of XRP as unregistered investment contracts. Advertisement Judge Torres's final ruling, however, rejected this attempt by relying on the decades-old Howey Test for modern digital assets. Judge Torres ruled that Ripple’s programmatic sales of XRP on public digital asset exchanges did not constitute the sale of securities. She concluded that retail buyers purchasing tokens on secondary markets through blind bid-ask auctions had no way of knowing their funds were going to Ripple. Consequently, these buyers could not have had a reasonable expectation of profits derived directly from Ripple's effort (hence, it failed a core prong of the Howey Test). You Might Also Like Sun, 07/12/2026 - 09:20 Ripple Vice President Heads to Key Event as XRP Ledger Momentum Builds By Tomiwabold Olajide Advertisement Conversely, the court sided with the SEC regarding direct institutional sales. Judge Torres ruled that Ripple’s $728 million in direct token sales to institutional players constituted unregistered securities offerings. These sophisticated parties were aware they were purchasing directly from Ripple (and their success depended on the company's efforts). On the verge of a shutdown In the meantime, recently surfaced statements from Ripple CEO Brad Garlinghouse and Chief Technology Officer David Schwartz confirmed that the company was seriously considering closing its doors. "We almost decided to shut down the company when the SEC sued us," Garlinghouse admitted. "We were like, you know, the government has infinite power and resources." This was due to advice from their lawyers, according to Schwartz. #Ripple News #XRP News