Recent reaction by billionaire tech mogul and Tesla CEO, Elon Musk, appeared in the wake of Ripple Lab’s longstanding battle against the US Securities and Exchange Commission (SEC) over the status of XRP. Musk spoke approvingly of The All-In Technology podcast discussing Ripple’ defeat of their opponents, quoting the episode with a concise “Good podcast”; pushing its views quickly up to millions. The staff of experienced industry participants, including Chamath Palihapitiya, Jason Calacanis, David Sacks, and David Friedged, discussed the essentials of the court ruling which stated the buying of XRP on public mediums was not eligible as investment contract under Howey test leeway.
The judgement differed markedly from the SEC filing charges earlier against Ripple and its stakeholders alleging unlicensed and unregulated offering of $1.3 billion. Upon discovery, the quick reaction as per prior initial trial proceeding showed the prices of XRP escalating by over 87%; basically, micro-investing industry denizens marking their admiration to the Ripple’s success. Most recently after being delisted by numerous major crypto exchange auctions (caused by the extremely tough laws asserted by the organisation of SEC) resulted an increased surge towards XRP resulting in cotinuous recharge of vitalistic feelings to the chainz after the collapse. Brad Garlinghous, CEO of Ripple toped it all off, explicity claiming XRP’s no longer classification to be a litigation matter.
