XRP Regulatory Status Shifts Focus from Legal Classification to Institutional Financial Activity

Crypto pundit X Finance Bull has urged XRP investors to look beyond the latest developments around the CLARITY Act. Instead of focusing on the bill's potential impact, they should examine how XRP's regulatory position has evolved in the United States.

In a recent tweet, X Finance Bull cited remarks from Evernorth CEO Asheesh Birla. According to Birla, market-structure legislation could accelerate institutional adoption, rather than establishing XRP's status.

X Finance Bull pointed out that Judge Analisa Torres' 2023 ruling in the SEC's case against Ripple distinguished XRP itself from investment-contract circumstances surrounding certain Ripple sales. The ruling was later upheld after the parties dropped their appeals in August 2025.

The commentator also referenced March 17, 2026, when the SEC and CFTC introduced a crypto taxonomy that explicitly included XRP among digital commodities under the agencies' interpretation.