In the lawsuit that has been going on for more than a year between Ripple and the SEC, another decision has been made in favor of Ripple. The judge dismissed the SEC's request to prevent Ripple from using its 'fair notice' defense.

One of the main arguments of the San Francisco-based payments company was that the SEC did not give Ripple adequate notice that it considers XRP a security. Since December 2020, when the lawsuit was filed, Ripple has been making this argument. The SEC, on the other hand, asked the court not to uphold this defense.

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Speaking after the decision in favor of Ripple, Stuart Alderoty, general counsel of Ripple company, commented:

   “The decision confirms the serious question of whether Ripple has been notified by the SEC since 2013 that distributions of XRP are prohibited under securities laws. We will continue to fight so that the industry can get the legal clarity it deserves to move forward and flourish.”

Ripple CEO Brad Garlinghouse said the decision was “A great victory for Ripple!” interpreted as.

XRP price gains strength after developments

After the court's decision, the XRP price also increased. The number 4 cryptocurrency with its market capitalization reached $ 0.85 in a few hours, an increase of 18 percent from $ 0.72.