XRP Plans to Conquer Europe After Their Court Ruling

• A US judge presiding over the XRP vs SEC case recently ruled that the Ripple token wasn’t a security. Therefore, this was a major blow to SEC’s fight against the crypto industry. 
• Nevertheless, there was a positive impact on XRP following the ruling. Immediately, the price of its token started a massive bull run in the market. 
• Moving on, XRP plans a move away from the United States. Thus, the United Kingdom and Europe are one of their options. 

It was one of the best days in the crypto industry after U.S. District Judge Analisa Torres ruled that XRP wasn’t a security. In fact, this ruling set a major milestone in the XRP vs SEC legal issues. But the parent company behind XRP, Ripple Labs, already plans a move outside the United States. This is primarily because of the hostile environment in the country. XRP suffered losses for many years due to the lawsuit. 

XRP Lawsuit Update: New Ruling in Favor of XRP 

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The latest XRP lawsuit update is the new ruling favoring the crypto project. But the case didn’t start today. In fact, it continues after close to 3 years. 

1. On December 21st, 2020, the Securities and Exchange Commission charged Ripple Labs with selling illegal securities. However, XRP quickly stood its ground as it sought to defend itself in court. 
2. Immediately after the charges against XRP, many crypto exchanges, such as Coinbase, delisted it. 
3. After several ups and downs in the case, XRP made headway in 2023. On July 13th, the judge presiding over the case said XRP wasn’t a security in the SEC’s context. However, this wasn’t a full ruling on the case. 
4. But it was something huge for XRP. At least, the judge declared them innocent of some of the allegations. 
5. The case is still on, but XRP is already making plans. They want to move away from the United States and establish themselves in more favorable locations like Europe. 

XRP vs SEC: Ripple Labs Seeks a Move To Europe 

XRP wants to move very fast away from the United States. While the XRP vs SEC lawsuit continues, the crypto project has its priorities in line. It started plotting how banks would reintegrate them as part of their assets. Ripple’s attorney says banks might come back as clients. 

The company’s European Managing Director, Sendi Young, said Ripple is applying for a UK license. Young said the UK’s Financial Conduct Authority is handling their application and registration process. Additionally, XRP is applying to register as a payment crypto firm in Ireland. 

Conclusion 

Things went quite well for XRP in the past few weeks. In the latest XRP lawsuit update, they have gotten a new ruling, which helped increase XRP’s price. However, they are also making a bold decision by seeking to get established in Europe.