A US District Court has granted class status to investors in a securities lawsuit against cryptocurrency company Ripple Labs Inc. The lawsuit alleges that Ripple Labs sold XRP, a virtual token, to retail investors in violation of federal and state securities laws. The court certified two classes for federal and California state securities claims, limited to US-based investors who purchased XRP between July 3, 2017 and June 30, 2023. The ruling emphasizes the predominance of common questions and shared merit of claims within the class, and the case will proceed collectively.