Ripple sales to public isn't a security, judge rules, sending XRP up 74% (updated)

XRP ( XRP-USD ) soared 74% on Thursday after a U.S. District Court judge ruled that XRP isn't a security in terms of Programmatic Sales, meaning sales to the general public. However, it denied Ripple Labs' motion for summary judgment regarding Institutional Sales. The court will issue a separate order to set a trial date in due course, U.S. District Judge Analisa Torres said in the decision. Also helping the digital asset, Coinbase Global ( NASDAQ: COIN ) said it's restarting XRP trading after the ruling . XRP jumped to $0.81, its highest level in more than a year, after the news. In 2020, the Securities and Exchange Commission filed a lawsuit against Ripple Labs and two of its executives, alleging that the company raised more than $1.3B through an unregistered digital asset securities offering. The SEC contends that most cryptocurrencies fit the definition of securities, though it hasn't made that accusation against bitcoin ( BTC-USD ) or ethereum ( ETH-USD ), the two largest cryptos by market cap. Other cryptocurrencies also jumped in Thursday trading. Bitcoin ( BTC-USD ), the world's largest crypto by market cap, gained 4.2% to $31.6K, ethereum ( ETH-USD ) rose 6.6% to almost $2K, cardano ( ADA-USD ) jumped 21% , litecoin ( LTC-USD ) +7.1% , and polygon ( MATIC-USD ) +18% . Crypto-related stocks also climbed. Coinbase Global ( COIN ) surged 25%, Marathon Digital ( MARA ) +15%, Riot Platforms ( RIOT ) +15%, Hut 8 Mining ( HUT ) +19%, Hive Blockchain ( HIVE ) +17%, Bakkt Holdings ( NYSE: BKKT ) +19%. More on Ripple: SA's Crypto Roundtable discussed the importance of the SEC/Ripple case Buy the SEC Uncertainty, Sell the Settlement News - June Update SEC versus crypto: Regulatory clarity or confusion? Ripple introduces central bank digital currency platform Ripple acquires Swiss crypto custody company Metaco