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Will The Upcoming Ripple Party Have A Positive Effect On The XRP Price?

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Ripple has been planning a ‘Proper Victory Party’ to celebrate its victory over the United States Securities and Exchange Commission (SEC) for a while now and this could affect the XRP price. This was made public in late August when the company announced the September 29 date. Now, with the Ripple victory party just a few days away, could it have a positive effect on the XRP price?

Background On The Ripple Party

In July, Judge Analisa Torres ruled that secondary XRP sales did not count as securities. This judgment came after an almost three-year-long bitter battle between Ripple and the SEC. The lawsuit alleging XRP was a security was first filed in 2020 and has raged on even through a historic bull market.

However, Ripple had refused to go the route of settlement like many others and instead decided to fight the regulator in court. This led to millions of dollars in legal fees for the crypto firm, as it fought tooth and nail to prove that XRP did not qualify as a security.

Eventually, Ripple was vindicated by Judge Torres’s ruling, leading to widespread celebration among the community. XRP had been re-listed on major crypto exchanges such as Coinbase and Bitstamp which had initially delisted the token over its regulatory problems and the price of the token surged in response.

On the back of the victory, Ripple announced that it would be holding a community celebratory party to mark the occasion. Replying to this announcement, CEO Brad Garlinghouse chimed in to say; “As promised – it’s time for that proper victory party.” He further added, “The last few years have been quite the journey and I look forward to sharing a celebratory toast on Sept 29 in NYC!”

As promised – it’s time for that proper victory party.

The last few years have been quite the journey and I look forward to sharing a celebratory toast on Sept 29 in NYC! https://t.co/9YDQGnK6Pg