Ripple’s Next Fight: The Legal Battle Over Determining the Security Status of XRP Continues

Journalist

• Judge Hamilton has allowed​ a lawsuit because ​XRP is a possible security that could be sold to retail‍ investors.
• Despite dismissed lawsuits, ⁤legal complexities remain.

New​ court ruling on XRP lawsuit with SEC

Judge Phyllis Hamilton ruled ⁣that XRP ‍can be considered a ‌financial instrument‍ when sold to retail ⁢investors.

Several allegations‍ dismissed, lawsuit against‌ Brad Garlinghouse​ remains.

Ripple’s chief legal officer, Stu ‍Alderoty, stated that the lawsuit only⁤ survived on the specific question‌ of whether Garlinghouse’s claims were misleading.

All ​class action‍ lawsuits have been dismissed, except for the one to be tried in ‌court.

Judge Phyllis Hamilton also ​denied​ Ripple’s motion for summary judgment⁢ and granted the civil suit against RippleLabs to proceed.

Ripple’s ‌Legal Battle

Brad Garlinghouse’s statements in 2017 are under scrutiny, with⁣ claims that he sold millions of XRP despite saying ⁤he was long on XRP.

Judge Hamilton’s ⁤decision ‍reinforces the complexity of‍ the legal​ landscape for cryptocurrencies.

Effect on XRP Price

XRP is currently trading at $0.4912,⁣ with⁢ an analysis suggesting ⁢potential future‌ rise in its value.