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XRP Token Soars 28% After Judge Rules XRP is Not a Security in Ripple Case with SEC

The XRP token of Ripple Labs saw a surge of 28% on Thursday following a court ruling in an ongoing lawsuit, as reported by CoinGecko. The Securities and Exchange Commission's motion was granted and denied in part, as was Ripple's motion. The case will proceed to trial, with issues that were denied summary judgement being raised at the trial. The court concluded that Ripple's Institutional Sales of XRP violated Section 5 of the Securities Act, while its Programmatic Sales did not constitute the offer and sale of investment contracts.

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