Ripple, a blockchain startup, claims that a judge's decision to declare XRP not a security in some cases will boost its business in the U.S. The company expects to talk to American financial firms about its ODL product, which uses XRP for cross-border payments, in the third quarter.

A federal court ruled that XRP is not a security on its face, but only for some institutional sales by Ripple. The decision boosted the price of XRP and other crypto assets, but also raised questions about the SEC's authority and crypto exchanges.

Ripple's Class Action Lawsuit Is Nearing Final Judgement. Ripple's class action lawsuit is progressing towards final judgement, potentially aiding its case against the SEC. The lawsuit alleges XRP sales violations between 2017 and 2023, with a trial set for January 21, 2025. Ripple's victory could impact the SEC's similar lawsuit.

An SEC spokesperson said the agency was pleased with part of the ruling in which the judge held that Ripple violated federal securities law by selling XRP directly to sophisticated investors.

Since its founding in 2012, Ripple has carved out a prominent position in the crypto sector through its promise of building a global payments network and its proprietary token, XRP, which has...

This past August, Judge Torres imposed a $125 million fine against Ripple, well below the nearly $2 billion the SEC requested in disgorgement, prejudgment interest and civil penalties.