Ripple president Monica Long has stated that the company intends to continue its legal battle against the Securities and Exchange Commission (SEC) in regards to the lawsuit filed against Ripple. The SEC sued Ripple and its top executives in December 2020, alleging that they illegally raised over $1.3 billion through the sale of XRP as an unregistered security. In July, a federal court ruled that while the XRP token is not a security when sold to the general public, institutional sales did constitute unregistered securities sales. This ruling was seen as a significant win for Ripple and the crypto industry. The SEC has since appealed the decision, but Ripple remains determined to fight the case. The article speculates on whether these developments and Ripple’s resilience could lead to a surge in the XRP price.
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