Ripple Labs, the company behind the cryptocurrency XRP, received a mixed verdict from US District Judge Analisa Torres in its legal battle with the US Securities and Exchange Commission (SEC). The judge deemed institutional sales by Ripple as securities but refrained from labeling all other sales in the same way. This decision was seen as a positive outcome for Ripple and the crypto market, as XRP was not classified as a security in its entirety. The court did not address secondary market sales of XRP, highlighting the complexity of determining such sales as investment contracts. Crypto industry commentator Adam Cochran believes this verdict is mostly positive news for Ripple and altcoins, as it confirms that programmatic sales on exchanges do not meet the criteria for being considered securities. The ruling resulted in a 16.5% surge in the price of XRP.
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