The recent SEC vs. Binance ruling may have implications for Ripple’s defense against accusations of selling unregistered XRP to institutional investors. Ripple is facing a court ruling that it violated US securities laws, but the Binance ruling could play a significant role.
In July 2023, Judge Torres ruled that programmatic sales of XRP do not meet the requirements of the Howey Test. This decision could support Ripple’s argument in their defense against the SEC. Judge Amy Berman Jackson referenced this ruling in the Binance case, indicating that the SEC’s approach may not align with Supreme Court directives.
The Binance ruling is important as it could hinder the SEC’s plans to appeal the Programmatic Sales of XRP ruling. This development could benefit XRP, as seen when the price of XRP surged following the July court ruling but later dipped due to concerns about a potential SEC appeal.
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