It's been a long road for Ripple and XRP in a three-year court battle between Ripple and the SECGov over whether $XRP is a security. Remember how we got here? ICYMI, here's the background on Ripple, XRP and the case with the SEC:
Until the ruling in July 2023, U.S. exchanges had either delisted or temporarily halted the ability to trade XRP while the SEC suit was ongoing. Shortly after the ruling,, though there are some restrictions still in place. For instance, New York residents were unable to buy XRP on Coinbase as of writing.
Residents outside the U.S. were able to trade XRP on exchanges like Binance, eToro and Kraken, which continues unaffected.Although it uses the open nature of blockchain to decentralize its bookkeeping and keep transactions transparent, XRP is more centralized than Bitcoin or Ethereum in that no public entity or person outside of Ripple can determine the issuance of new coins.
That is largely because XRP is ostensibly more a tool for transferring value across borders via Ripple products than it is a speculative investment vehicle – although to the SEC’s mind, it had unquestionably functioned as an investment, which led the regulator to Ripple in 2020 with illegally raising $1.38 billion from investors in what the SEC regarded as an “unregistered securities offering.” We’ll get more into the suit below.Fast, efficient, and transparent payments with an added liquidity tool to help streamline the settlement process.Ever-improving scalability – the XRP network can handle up to 1,500 transactions per second.
Ripple used those funds to"promote and increase the value of XRP by developing uses for XRP and protecting the XRP trading market,"The second half of the ruling however, went in Ripple’s favor as the court found that “programmatic sales” of XRP through exchanges or algorithms did not set the same expectations, as there was no definitive proof that retail investors expected to profit from the efforts of others.
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