🚀Hey BTC enthusiasts! Here's a quick update on the crypto scene. The crypto market has seen some pullback since Tuesday, but XRP is holding strong! 💪

Why, you ask? A major court ruling regarding the SEC’s lawsuit against Binance has given Ripple, the company behind XRP, a boost in its ongoing battle with the regulator. 🏛️

Ripple’s legal counsel, Michael Kellogg, argues that the recent Binance ruling supports Ripple’s case that its sales of XRP do not warrant “harsh remedies” as the SEC claims. 📝

Last week, a judge dismissed SEC claims that secondary market sales of Binance’s BNB token constituted securities transactions. The judge criticized the SEC for its decision to “oversee this billion dollar industry through litigation” as being “inefficient” and leaving relevant parties “without clear guidance.” 🧐

This supports Ripple’s argument that providing clarity on the legality of different types of sales of XRP was the most significant aspect of the Court’s decision. 🎯

Remember when Torres ruled on Ripple about a year ago? XRP surged roughly 70% in one day, and was relisted across multiple major exchanges. The lawsuit also became a pivotal reference point for the crypto industry in its ongoing battles with the SEC. ⚖️

Meanwhile, Bitcoin traded down 2.1% on Tuesday while Ethereum fell 1.4%. But assets within the SEC’s crosshairs – including XRP and Solana (SOL) – rose 1.2% and 3.4% respectively. 📈

Stay tuned for more updates! 🚀