Ripple wins as a judge rejects the SEC's request for a Sur Sur-Reply

By CJ - Cryptocurrency Enthusiast – 10-07-2022

• The legal struggle between the SEC and Ripple has taken a new turn
• As a result of the United States District Judge's denial of the SEC's Sur Sur-Reply, the tide has turned in favor of Ripple Labs Inc
• Despite the Ripple crypto market community's win, the price of XRP has continued to fall as a result of Russia's invasion on Ukraine
• The US SEC's move to submit a Sur Sur-Reply in support of its petition to strike against Ripple was refused by District Judge Torres

In case you forgot, the SEC accused Ripple Labs Inc. and two of its executives—co-founder Christian Larsen and CEO Bradley Garlinghouse—of selling over $1.3 billion in XRP, which they claimed was an unregistered security, in a lawsuit they filed against them in December 2020.

Ripple attorneys submitted a Sur-Reply during the hearings, stating that this is the agency's first instance in which they have taken action against a corporation or individual executives for overselling an established digital asset.

Ripple's community has been anxiously expecting the ultimate ruling for the case in a protracted legal struggle that has seen the SEC use different strategies to postpone the process.

The Ripple community may breathe a sigh of relief when District Judge Analisa Torres dismissed the SEC's petition to file the Sur Sur-Reply in New York on February 23, allowing the Ripple community to breathe a sigh of relief. The legal struggle, on the other hand, is still ongoing.

Despite this, the price of XRP has continued to decline as a result of Russian President Vladimir Putin's decision to strike Ukraine.

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