XRP News: Here Are The Major Takeaways From The Ripple Victory Party

Although the legal battle between Ripple and the SEC isn’t officially over, the payments technology company has gone ahead to host a party to celebrate its partial win in court. After the court win, Ripple’s founder and CEO Brad Garlinghouse announced on social media a September 29 date for what was called a “Victory Party.” Now that the event has been held, it hasn’t gone without a mark for the XRP community.

A Sense Of Relief And Validation

After years of battling it out against the SEC in court, Ripple finally got some reprieve. While Ripple’s legal troubles aren’t over, the company threw a party. As expected, the party was a lavish one, with many people even queuing to get into the event. Lenny Kravitz, a legendary figure in the world of rock music, gave a performance at the event, which added to the joyous spirit of the occasion.

Ripple CEO Brad Garlinghouse gave an impassioned speech at the party, highlighting key points from the legal decision. Garlinghouse took to the stage to deliver a speech which inspired confidence in the XRP community while also acknowledging key personalities in the Ripple team. 

Notable individuals recognized included General Counsel at Ripple Stuart Alderoty, Deborah McCrimmon, and CTO David Schwartz. Members of Ripple’s legal team were also appreciated, with names like John Deaton, Jeremy Hogan, and James K. Filan. 

XRP market cap currently at $27.5 billion. Chart: TradingView.com

Garlinghouse also gave kudos to XRP’s vast community, attributing the success to the faith from its members. “When the going got tough, you guys were so supportive to Ripple, to me. I want to thank all of you,” Garlinghouse said in his speech. 

“One thing I think we all learned is that it does take a village to fight a bully and this village beat the bully,” he also said.

Major Announcements At The Ripple Party

Ripple’s future outlook wasn’t discussed at the event, as the gathering was just for celebration. Before the party even started, Garlinghouse tweeted to give a heads-up regarding any announcements. Ripple, on the other hand, recently backtracked on its intention to acquire the financial organization Fortress Trust.

While Ripple’s win on fair notice is important, the SEC’s lawsuit remains ongoing, and the stakes for the broader crypto market remain high. There have also been talks regarding a case settlement. However, many have seen the event as a major milestone for Ripple and XRP. In particular, attendees expressed a sense of relief and validation that the SEC ruling went in Ripple’s favor, even if partially.

Featured image from iStock