XRP has surged by more than 10% after the anniversary celebration of Judge Analisa Torres’ XRP ruling.
Ripple CEO Brad Garlighouse and CLO Stuart Alderoty commemorated the day through their social media posts.
The token currently trades at $0.527, with more than 30% increase in its trading volume.
The XRP token experienced a substantial surge of more than 10% following the first anniversary of Judge Analisa Torres’ much-celebrated ruling on the token’s status. Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty commemorated the day through their social media posts.
On July 13, 2023, Judge Analisa Torres ruled in favor of Ripple in the long-held Ripple-SEC legal fight. The judge concluded that XRP’s secondary sale does not constitute a security. While the ruling marked a landmark victory for the XRP community, it was a major blow to the Securities and Commission’s (SEC) regulatory overreach.
One year later, on July 13, 2024, the key Ripple executives celebrated their victory, reiterating their opposition to the SEC’s regulatory policies. While Gralinghouse acknowledged the event as a “core memory,” it was a “watershed moment,” as per Alderoty.
Notably, the historical XRP ruling had a significant impact on the broader crypto space. For instance, recently, Judge Amy Berman Jackson ruled that the secondary sale of Binance’s BNB token does not qualify as a security. The judge confirmed BNB’s status by referring to Judge Torres’ XRP ruling.
Following the Ripple executives’ celebration of the anniversary, the XRP token surged by 10.92%, reaching around $0.5623 and marking a monthly high. At press time, XRP is trading at $0.5275, with a daily increase of 3.11% and a weekly uptick of 20.56%. Over the last month, XRP has surged by nearly 11%. This price surge aligns with the notable increase in the 24-hour trading volume, currently standing at $2.62 billion. While the volume marks a 31% increase, it highlights the positive investor sentiment.
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