Ripple took advantage of a recent court ruling on Binance's BNB token to argue against heavy penalties from the SEC on XRP sales, citing a lack of regulatory clarity. SEC rejects relevance of Binance case to Ripple situation; XRP price fell to $0.45 amid broader market decline. 📉

Last week, Judge Amy Jackson rejected the US SEC's claim that Binance's secondary market sale of BNB tokens constituted a securities transaction. This judge's decision caught the attention of Ripple, which plans to use it to its advantage.

Ripple argued that the ruling supports its case that allegedly illegal XRP sales do not require a “harsh solution” (as claimed by the agency).

The American securities regulator did not let this go unpunished, filing an official response on July 3. According to the Commission, the case against Binance is "completely irrelevant" to the case against Ripple.

The price of

This decline coincided with an overall market correction. Bitcoin (BTC) fell to $57,000 for the first time since early May, while Ethereum (ETH) fell to $3,100. This resulted in $260 million in liquidations, with long positions accounting for about 90% of that share.

For those who want to learn more about the Ripple v SEC case and see how the outcome may affect the price of XRP, please check out our video below:

Let's discuss further in the comments column! 😄