🚨 Ripple Labs is facing a securities lawsuit, folks! 🚨 A US federal court judge has given the green light for the case to proceed. The beef? Allegations that Ripple's CEO, Brad Garlinghouse, made some "misleading statements" about XRP's status.

🎙️ The claims center around a TV interview where Garlinghouse expressed doubts about other digital assets while hyping up XRP. This statement was then shared on Ripple's official Twitter account, increasing its reach.

🔍 The plaintiff argues that Garlinghouse's comments were misleading as he was selling millions of XRP on crypto exchanges in 2017 while publicly stating he was "very, very, very long XRP" and planning to "hodl" the asset.

⚖️ The court ruling challenges XRP's status for non-institutional investors. While Ripple argued that XRP doesn't meet the criteria of a security under the Howey test, Judge Hamilton disagreed. She suggested that XRP could potentially be classified as a security when sold to individual investors.

📈 The judge reasoned that these investors would have anticipated profits from Ripple's efforts, a key factor in the Howey test.

What do you think about this development? Let's chat in the comments! 👇 #Ripple #XRP #CryptoNews