Ripple wins lawsuit against SEC, but what happens next?

financialexpress.com:

On July 13, 2023, Ripple Labs, a cryptocurrency-based software company, secured victory in its legal battle against United States (US) Securities and Exchange Commission (SEC). Experts believe that this development can help create the long-awaited regulatory landscape around the cryptocurrency industry. 

“I believe that this ruling brings clarity for crypto. While crypto has its reported share of bad actors, I consider that majority of crypto participants are here to innovate and build the ecosystem. Rulings like these can help build confidence for all the builders as well as the investors’ ecosystem,” Nischal Shetty, co-founder, Shardeum, a layer-1 blockchain platform, told FE Blockchain.

Going by the verdict, Analisa Torres, US District Judge, stated that Ripple Labs didn’t hamper federal securities laws, by conducting XRP token-based transactions on public exchanges. However, Torres ruled part of the judgement in favour of SEC, by also mentioning that XRP token qualifies as a security upon sale to institutional investors, according to Howey Test, a legal test conducted in US. 

Post the development, XRP token witnessed an overall 75% rise in value, going by data from Refinitiv Eikon, a financial analysis platform. Immediately after the judgement was passed, XRP token reportedly rose from $0.45 to $0.61. As things stand on July 14, 2023 (16.27 pm, Indian Standard Time), CoinMarketCap, a crypto-price tracking website, showed that XRP token was trading at nearly $0.80, having a $41.58 billion worth market capitalisation. 

“As seen from the surge in XRP’s market capitalisation and price following the ruling, investors can see this as a development and could be willing to invest in XRP. Furthermore, the ruling could lead to