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The collaboration with Uphold comes shortly after Ripple celebrated a recent triumph in its ongoing legal battle with the US SEC.
Morgan asserts that XRP sales fail to meet at least two of Howey test prongs, making the SEC’s case weak. With the facts apparently not aligning with the Howey framework, he sees little room for the SEC to overturn the earlier judgment.
The US SEC moves on the backfoot as Ripple registers yet another victory in their legal battle.
The situation first arose when BitPay posted a tweet stating that Ripple (XRP) could now be used to buy items in games that use BitPay, including Roblox and Smite.
While it is unclear if Campbell’s departure is related to the continued battle between Ripple and the United States, there are no indications of such.
Per Hogan, considering where the case currently stands, only two outcomes are possible going forward.
This ruling marked a crucial victory for Ripple, instantly boosting XRP’s price by almost 5%. When Ripple achieved its first victory, although a partial one, in July, the price of XRP spiked from $0.46 to $0.93 in just 10 hours, a stunning 100%+ increase.
For reasons best known to Ripple and CEO Garlinghouse, the deal to acquire Fortress Trust is now off despite enthusiasm shown weeks ago.
Ripple’s expansion plans come months after its partial victory in its ongoing legal battle with the US SEC.
Top voices in the crypto industry have continued to criticize the US government and its approach toward regulation.
Ripple, an investor in Fortress, has stepped in to compensate Fortress customers for any incurred losses as part of the acquisition process.
Pantera Capital believes that the recent XRP ruling, possibility of a BlackRock ETF and the next Bitcoin halving will spike prices.
Amidst the legal battle and regulatory scrutiny, July 2023 witnessed a seismic shift in the narrative surrounding the case.
Gemini highlighted that XRP will be available for trading under several currency pairs including USD, GBP, EUR, CAD, SGD, HKD, and AUD.
Following the announcement by Judge Analisa, Jeremy Hogan, a partner at Hogan & Hogan, highlighted that the final judgment in the case will not be issued until at least late 2024.