Per a recent announcement, the long-awaited party to celebrate Ripple’s lawsuit victory against the United States Securities and Exchange Commission (SEC) has been scheduled to happen in September.
Recall that the protracted legal battle between Ripple Labs and the United States crypto regulatory body began in December 2020, after the crypto regulatory commission filed a lawsuit against Ripple for allegedly amassing $1.3 billion through XRP sales.
Read Also: Ripple CEO Brad Garlinghouse Officially Releases Video On Hinman Docs, Appreciates XRP Community
It’s worth noting that the summary Ruling by Judge Torres on July 13 acquitted Ripple of most charges, culminating in the price surge that saw XRP increase by more than 90%.
Meanwhile, a move by the SEC for a potential interlocutory appeal to review the court’s verdict has passed the court’s approval and has already been filed by the SEC. Also, the parties involved in the remaining proceedings have submitted blackout dates as ordered by the court.
Victory Party Time for XRP Community
Amid the growing momentum about the possibility of another round of court proceedings ensuing between Ripple and the SEC, Brad Garlinghouse, Ripple CEO, recently took to Twitter to announce Ripple’s celebratory victory party scheduled to play out live in New York City on September 29.
Brad Garlinghouse tweeted, “As promised – it’s time for that proper victory party. The last few years have been quite the journey, and I look forward to sharing a celebratory toast on September 29 in NYC!”
As promised – it’s time for that proper victory party.
— Brad Garlinghouse (@bgarlinghouse) August 28, 2023
The last few years have been quite the journey and I look forward to sharing a celebratory toast on Sept 29 in NYC! https://t.co/9YDQGnK6Pg
Read Also: Ripple CEO Brad Garlinghouse Defends XRP Against Securities Allegations, Slams Critics
Possible Implications Of Ripple and XRP Victory
One of the most significant impacts of Ripple’s court victory could be on the overall crypto space. The judgment could set the tempo for establishing crypto transaction-friendly regulatory principles.
Also, the celebration seems to fall within the same period where crypto projects appear to attract interest from exchanges, individuals, financial institutions, and other government and private establishments. All these would have been the opposite if the court had ruled against Ripple.
In addition, Ripple’s doggedness in the face of the fierce legal battle could be adopted by many as motivation to always stand for their right without being intimidated or subdued.
In a nutshell, Ripple’s court victory will go down as a game changer that will shape regulatory bodies’ influence in crypto operations.
Meanwhile, XRP’s price at the time of writing appears to have changed hands between minimum and maximum price levels of $0.509393 and $0.540972, respectively, in the past week.
Follow us on Twitter, Facebook, Telegram, and Google News
