Charles Hoskinson, Cardano founder has joined the general crypto community to celebrate Ripple’s big win over the SEC. Ripple Labs’ court victory has drawn positive remarks and praises from leaders and other members of the crypto community.
On June 13, District Judge Analisa Torres issued her ruling in the Ripple vs SEC case declaring that XRP is not a security. Recall that Ripple was charged to court by the Securities and Exchange Commission accusing the company and its executives of offering unregistered securities by selling XRP. The case between the two entities had been on since 2020, however, a judgment has been passed in favor of Ripple.
Hoskinson’s reaction
In his reaction, Cardano founder Charles Hoskinson took to his official Twitter page to congratulate XRP. According to him, “one small step for XRP Nation, one Giant leap for Cryptocurrencies.”
In the tweet, he posted a part of Judge Torres’s ruling and highlighted where she stated that XRP does not constitute a “contract transaction or scheme” even though it is a digital token.
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Well done XRP. One Small step for XRP Nation, one Giant leap for Cryptocurrencies! pic.twitter.com/WmuIg8Ccc6
— Charles Hoskinson (@IOHK_Charles) July 13, 2023
Furthermore, Hoskinson also congratulated Ripple’s CEO in a separate tweet by posting a GIF saying “Well Done” and tagging Brad Garlinghouse in it. Also, he extended praises to David Schwartz, Ripple CTO by posting another GIF of a man donning a hat.
Read Also: There Will be no Money for Years If Ripple Loses to SEC, John Deaton Says
@JoelKatz pic.twitter.com/qVQb6zxYvQ
— Charles Hoskinson (@IOHK_Charles) July 13, 2023
Meanwhile, the Ripple vs SEC lawsuit is not finally over, however, XRP classification as not security could help Cardano in any possible crackdown by the Commission.
The crypto market reacts
Following the news of Judge Torres’s ruling, the general crypto market has reacted positively over the last day. According to live data from CoinMarketCap, the global crypto market cap is $1.25T and it is up 4.73% in the last 24 hours. Other cryptocurrencies listed as securities by the SEC including Cardano (ADA) and Solana (SOL) have also witnessed a price surge.
At press time, Cardano is currently selling for $0.3466 and the price is up 19.93% in the last 24 hours. Similarly, the price of Solana (SOL) is up 23.25% in the last 24 hours, selling at $27.48.
Ripple (XRP) price today
Live data from CoinMarketCap reveals that the price of XRP today is $0.7728 and is currently up 63.92% in the last 24 hours. What’s more, XRP is ranked #4 on the CoinMarketCap chart with a live market cap of $40,769,177,310 ($40 billion).
Source: CoinMarketCap
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.