Pro-XRP lawyer Bill Morgan highlights three great outcomes recorded since July 2023 after the SEC v. Ripple court decision.
Attorney Bill Morgan, a seasoned lawyer closely following the SEC v. Ripple case, has highlighted three “great outcomes” that have emerged from the landmark ruling since July 2023.
On July 13, 2023, U.S. District Judge Analisa Torres issued the highly-anticipated summary judgment decision in the multi-year legal tussle between the SEC and Ripple Labs.
As reported earlier, Judge Torres declared that XRP in itself is not a security. The judge found that while institutional sales of XRP violated the law, programmatic sales and other distributions did not.
Although the lawsuit is ongoing, pro-XRP lawyer Morgan highlighted three great outcomes that emerged from the July verdict.
3 Great Outcomes From SEC v. Ripple Ruling
Per Attorney Morgan, the first outcome was that XRP was given legal clarity. Following the court’s July 13 decision, XRP became the only crypto asset with legal clarity in the United States.
In addition, Attorney Morgan stated that the ruling also prompted multiple crypto exchanges to relist XRP. As reported earlier, several crypto exchanges like Coinbase and Kraken were forced to relist the XRP after the court declared the coin as non-security.
These crypto trading platforms initially delisted XRP from their platforms shortly after the U.S. SEC charged Ripple with violating federal securities laws in December 2020.
However, they made a U-turn and relisted XRP after the judge declared that programmatic XRP sales on digital exchanges are not securities.
According to Attorney Morgan, the last great outcome is the increasing use of Ripple’s On-Demand Liquidity (ODL) solution and the blockchain company’s partnerships with top firms.
It bears mentioning that Ripple has inked partnership deals with top firms since July. Some of the partnerships include Ripple’s collaboration with RocketFuel, Uphold, and FOMO Pay.
Lawyer Questions How XRP Will Hit 3 Figures
Attorney Morgan pointed out that these events helped to push the XRP price from a meager $0.46 to $0.62. While the lawyer believes that XRP price action since July is better than some coins, he acknowledged that the crypto asset is still lagging behind others.
Although the three outcomes Hogan highlighted have contributed positively to XRP price, he questioned how XRP would experience a parabolic move that could help it achieve three figures.
“I just don’t know what would cause it (if we are saying three figures) short or medium term and long term could mean anything,” he concluded.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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