• XRP scored high on the popularity charts after securing a victory in one of the longest and most hotly contested legal battles in corporate history.
• Former SEC official John Reed Stark criticized the distinction made between institutional investors and the general public when it came to extending SEC protections and remedies.
• Prices have significantly cooled down after exploding by 80% on the day of the verdict, but XRP is still 50% higher than it was a month ago, trading at $0.71 at press time.
XRP Legal Battle Victory Sparks Social Buzz
XRP scored high on the popularity charts after securing a victory in one of the longest and most hotly contested legal battles in corporate history. According to social analytics firm LunarCrush, XRP’s social buzz has soared following the landmark judgement. At press time, XRP was 50% higher than it was a month ago, trading at $0.71 according to CoinMarketCap.
Former SEC Official Criticizes Court Ruling
While XRP community and most proponents of cryptos were in celebratory mode, voices criticizing the ruling began to emerge. John Reed Stark, ex-official at the U.S. Securities and Exchange Commission (SEC), voiced his concerns and took to LinkedIn to point out fundamental flaws with the verdict. He raised objections to the distinction made between institutional investors and retail investors when it came to extending SEC protections and remedies as well as token sales through exchanges from securities law being exempt from securities law protection for retail buyers who supposedly did not know anything about crypto-issuers..
Ruling Distinction Between Institutional & Retail Investors
The ruling had mentioned that XRP is considered a security when it’s sold to institutional investors but not extended this same protection or remedy for retail buyers who purchased via exchanges or other methods from crypto-issuers they knew nothing about . This exclusion was seen as patronizing by Stark as well as ripe for appeal due its shaky legal grounds which could likely result in reversal if challenged again in court.
XRP Price Explosion After Verdict Day
Prices have significantly cooled down after exploding by 80% on the day of the verdict, however XRP is still 50% higher than it was a month ago according CoinMarketCap data.. Despite this spike followed by an eventual decline back into previous range levels, many remain optimistic about future prospects for both Ripple Labs Inc., developers of XRP coin itself, as well as its holders whose investments have seen gains since prior lawsuit news broke out months ago..
Conclusion
The landmark court ruling declaring that XRP coin does not qualify as security has brought much needed reprieve for Ripple Labs Inc., developers behind this popular payments-focused coin which continues gaining tremendous social engagements amongst crypto users worldwide despite cooling off prices post explosion following initial verdict announcement date . While further appeals may be filed against this decision given its shaky legal standing , current holders will continue experiencing price appreciation until such eventualities are clarified once more .