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XRP is probably a security, don’t @ me

Quick Take

  • New ruling in the In Re Ripple Class Action lawsuit.
  • Court says securities claims as alleged in lawsuit appear to have been timely filed, at least for motion to dismiss purposes, denies motion to dismiss on this basis.
  • Securities claims against Ripple and other defendants, including CEO Brad Garlinghouse, are not dismissed.
  • While ruling is not a decision on the merits, many of the alleged facts appear to be difficult to controvert and may well lead to the Court eventually concluding that XRP is a security.  
While ruling is not a decision on the merits, many of the alleged facts appear to be difficult to controvert and may well lead to the Court eventually concluding that XRP is a security.  

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