XRP is the native token of the XRP Ledger, and the cryptocurrency used by the Ripple payment network. 

It's built for enterprise use on a global scale and helps power cost-efficient cross-border payments.

A summary judgment partially in favor of payments network Ripple represents a milestone win for the crypto industry and provides legal clarity as to what does and doesn't represent a security, JMP Securities wrote in a research note Friday.

Ripple's XRP Ruling a ‘Milestone Win' for Crypto Industry, Says JMP Securities

The spike in trading activity came after a partial win in a lawsuit against the SEC.

XRP Trading Volume Surges 1351% as Major Crypto Exchanges Embrace the Token

Short sellers are getting slammed by hundreds of millions of dollars worth of liquidations as the crypto markets rally due to XRP receiving a favorable ruling for crypto traders.

$218,000,000 in Liquidations Hits Short Sellers in 24 Hours As Crypto Market Rallies After Favorable XRP Ruling

Since July 12, 2023, the cryptocurrency market has expanded by a staggering $60 billion within a mere 48 hours. The majority of this growth transpired after the decisive Ripple Labs case verdict, resulting in bitcoin's dominance dipping from 50% to its present level of 48.6%.

XRP's Rise Causes Ripple of Gains in Crypto Economy

Bitcoin

Bitcoin maintained its level above $31,000 on Friday, having first crossed the threshold Thursday following a U.S. court ruling that suggested XRP isn't necessarily a security when sold on exchanges.

Bitcoin price breaks through $31,000 in wake of XRP court ruling

XRP soared by as much as 70% higher on Friday, as markets continued to react to a court ruling that the token is not a security. On Thursday, U.S. judge Analisa Torres ruled that XRP is not “necessarily a security on its face.” Solana also surged on the news, climbing by nearly 30%.

Biggest Movers: XRP 70% Higher, as Markets React to Court Ruling

Binance.US opened trading for Ripple's XRP token Friday morning, joining rival crypto exchanges that listed the token on their platforms after a U.S. federal court ruled yesterday that the secondary sales of XRP on exchanges cannot be considered a security.

XRP Gets Binance.US Listing as Exchange Joins Rivals' Embrace

Coinbase Global, Inc. (NASDAQ: COIN) shares are volatile on Friday amidst increased activity in the overall crypto market. What To Know: On Thursday, a U.S. judge ruled that Ripple (CRYPTO: XRP) sales do not constitute an offer of investment contracts.

Ripple Effect: What's Going On With Coinbase?

Broker Bernstein highlighted that while the U.S. district court found institutional sales of Ripple's (CRYPTO: XRP) token to be in violation of securities law, the fact that it's not considered a security when sold through exchanges or programmatic sales is a major victory for the crypto industry. Other observers, including analysts at Gautam Chhugani, noted that the recent ruling alleviates the "securities overhang on tokens sold on exchanges," and provides "major relief for all tokens sold on secondary platforms.

Analysts React To XRP's Landmark Win Against SEC, But Is A Crypto Rally Justified?

Cryptocurrencies are heading for a winning week after a court decision Thursday fueled a sharp, broad crypto market rally.

Cryptocurrencies head for a winning week after sharp rally fueled by Ripple court decision

Coinbase's chief legal officer Paul Grewal said the crypto industry is ready to put legal troubles behind it and focus on innovation.

Coinbase sees crypto winter ‘thawing' after Ripple's partial legal victory

Ethereum

Bitcoin (CRYPTO: BTC) traded higher, with the cryptocurrency prices trading above the $31,000 level on Friday. Ethereum (CRYPTO: ETH) also moved higher, trading past the key $2,000 mark this morning.

Ethereum Tops $2,000; XRP Emerges As Top Gainer

The court's decision should moderately de-risk the regulatory pressure on the crypto exchange's stock, which is a significant overhang on the share price, the broker's report said.

Ripple's XRP Summary Judgment Positive for Coinbase, Price Target Raised to $120: Needham

Bitcoin rose towards the $32,000 mark late on Thursday, as markets reacted to the news that a U.S. judge ruled that XRP was “not necessarily a security on its face.

Bitcoin, Ethereum Technical Analysis: Bitcoin Hits 14-Month High, Following Ripple Ruling

Cardano

Dogecoin

Litecoin

Polygon

Solana

Bitcoin and crypto are braced for $30 trillion worth of capital hitting the market if any one of the recent flurry of U.S. spot bitcoin exchange-traded fund (ETF) filings are approved by the U.S.

‘A Big Deal'—Crypto Braced For A $30 Trillion Earthquake After Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Litecoin, Solana, Tron And Polygon Price Boom

The latest price moves in bitcoin (BTC) and crypto markets in context for July 14, 2023. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: XRP Gains 66% on Ripple's Partial Court Victory

Dogecoin (CRYPTO: DOGE) co-founder Billy Markus, known by his pseudonym Shibetoshi Nakamoto, on Wednesday shared his thoughts on the impact of the XRP court ruling. What Happened: When asked by a Twitter user whether the crypto market was moving due to the XRP news or the recent Twitter airdrops, Markus responded, “Definitely the XRP news, because if XRP isn't a security, there ain't much that would be.

Dogecoin Co-Founder Says If XRP Isn't Security, 'There Ain't Much That Would Be'

The ripple effects from Judge Torres' decision could become a wave that lifts all boats in crypto—starting with Coinbase.

The Ripple Becomes A Wave: Why XRP's Victory Lifts All Boats

Though the judge's decision didn't relate to secondary sales, exchanges are signaling greater confidence in trading XRP.

Kraken, Crypto.com Join Coinbase in Relisting XRP After Court Ruling

The 24-hour trading volume of XRP increased 18-fold, from $613 million to $11.2 billion between July 13 and 14.

XRP daily volume surges 18-fold following court ruling and exchange relistings

Positive gains spread across the board as Ripple's partial win against the SEC uplifts the crypto market's spirits.

The Ripple Effect: Crypto Market Soars $73.5B After Judge's Ruling in XRP SEC Case

The trading volume of XRP against the Korean won was the highest among all other counterparts.

XRP Trading Volumes Hit $2.5B on South Korean Exchange UpBit

The surge in the crypto exchange's share price was driven largely by investors who saw the decision as a representing a rejection of the SEC's argument in the lawsuit it filed against Coinbase in June, the report said.

Coinbase Rally on the Back of XRP Court Ruling Is Overdone: Berenberg

Judge Torres' partial ruling on the SEC vs. Ripple Labs case yesterday has added a new dimension to the agency's lawsuit against Coinbase.

Ruling on Ripple XRP Sales Sparks Optimism at Coinbase

Cryptocurrency analysts of Coinidol.com report, the XRP price resumed its uptrend after breaking through the resistance at $0.55.

News for XRP Crypto (XRP)