Alderoty Receives Support from US Supreme Court Ruling in Ripple Case

Ripple Chief Legal Officer Stuart Alderoty has said the recent US Supreme Court decision on Twitter and YouTube’s case aligns with Ripple’s argument about Howey principles. Alderoty believes the Court’s decision to adapt the Howey test to current conditions, considering the underlying statute, supports Ripple’s opinion that an “investment contract” involves a contract for an investment creating post-sale rights for the purchaser and obligations on the seller. Ripple stakeholders and the community are optimistic the Court will rule in XRP’s favour. Meanwhile, Judge Analisa Torres has granted the SEC and Ripple’s request to extend their filing of Hinman’s speech and other related documents by one week. XRP’s future remains unclear, but the token enjoyed a positive price performance over the past week, gaining over 9% to trade at $0.4662 at the time of writing. The XRP Ledger has averaged over 1,000 new accounts daily this year.