However, the Ripple lawsuit did not result in a complete victory for Ripple. The judge stated that while XRP was not a security, certain sales of the token did classify as securities transactions. Around $728.9 million of sales of XRP to institutional clients were deemed securities, with the judge citing an expectation of profit and common enterprise.
Alderoty recognized the ruling as not entirely in Ripple’s favor, expressing the company’s intentions to review the decision’s business implications. “We’ll study the judge’s decision, we’ll consider our clients’ needs and the market dynamics to see how we can operate within the framework established by the judge,” he concluded.
