United

Chair

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<p>Ripple CEO <a href="https://u.today/ripples-garlinghouse-bolsters-legal-team-amid-sec-battle">Brad Garlinghouse</a> posed for a photograph outside the headquarters of the U.S. Securities and Exchange Commission (SEC). The <a href="https://twitter.com/bgarlinghouse/status/1704241658852987340">photo</a>, featuring Garlinghouse and Ripple General Counsel Stuart Alderoty shrugging, went viral, amassing nearly 9,000 likes and over half a million views in just a few hours on the X social media platform.</p>
<blockquote>
 <p lang="en" dir="ltr">Had to take a picture in front of the <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECGov</a> building while in town. (in case you’re wondering…no, Chair Gensler did not invite us in) <a href="https://t.co/qfbfU7PrGQ">pic.twitter.com/qfbfU7PrGQ</a></p>— Brad Garlinghouse (@bgarlinghouse) <a href="https://twitter.com/bgarlinghouse/status/1704241658852987340?ref_src=twsrc%5Etfw">September 19, 2023</a>
</blockquote> 
<h2 id="earlier-protests-and-a-scotus-sighting">Earlier protests and a SCOTUS sighting</h2>
<p>The photo op comes amid a history of tension between Ripple and the SEC. Ripple has been embroiled in a legal battle with the regulator over whether its XRP token should be classified as a security.&nbsp;</p>
<p>The XRP community—often referred to as the "XRP Army"—previously <a href="https://u.today/stop-the-war-on-crypto-xrp-army-stages-protest-outside-sec-headquarters">staged</a> a protest outside the SEC's headquarters in 2019. Demonstrators held signs with messages like "Stop Crypto Hypocrisy" and "Cryptocurrency Is Not a Crime," demanding an end to what they perceive as the regulator's war on cryptocurrency.&nbsp;</p>
<p>Earlier, <a href="https://u.today/ripples-lead-lawyer-not-all-roads-lead-to-sec">Alderoty</a> had also posted a picture of himself and Garlinghouse in front of the Supreme Court of the United States (SCOTUS), emphasizing the need for legislative clarity.</p>
<blockquote>
 <p lang="en" dir="ltr">Swung by <a href="https://twitter.com/Scotus?ref_src=twsrc%5Etfw">@SCOTUS</a> in between meetings in DC. While the industry waits for legislative clarity from Congress, we should always be able to count on checks and balances. <a href="https://t.co/wjllGbmthC">pic.twitter.com/wjllGbmthC</a></p>— Stuart Alderoty (@s_alderoty) <a href="https://twitter.com/s_alderoty/status/1704195394429931683?ref_src=twsrc%5Etfw">September 19, 2023</a>
</blockquote> 
<h2 id="ripple-s-partial-victory-and-sec-s-appeal">Ripple's partial victory and SEC's appeal</h2>
<p>This summer, XRP experienced a significant price surge following a partial court victory for Ripple. A U.S. District Court Judge ruled that the sale of Ripple’s XRP tokens on exchanges did not constitute investment contracts, thus not violating federal securities laws.&nbsp;</p>
<p>Despite the initial spike, which was fueled by a wave of relistings of multiple exchanges, XRP has since lost those gains. After recently dipping below the $0.50 level, the token is currently trading at $0.52, according to <a href="https://www.coingecko.com/">CoinGecko data</a>.&nbsp;</p>
<p>The SEC has appealed the ruling, arguing for a more stringent classification of XRP transactions under securities law. Legal experts are divided on the issue; while some see the judge's decision as a step toward regulatory clarity, others argue it falls short of a final resolution.</p>

Ripple CEO Takes Photo Outside SEC Building

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