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Cryptocurrencies Jump on Ripple Token Ruling Touted by Industry Backers
Cryptocurrencies rallied as digital-asset advocates touted a ruling from a federal judge in the US Securities and Exchange Commission’s lawsuit against Ripple Labs Inc. as a victory for the industry when it comes down to what is classified as a security. XRP, the token at the center of the dispute, jumped as much as 37% to 64 cents, before paring gains. Other tokens that were recently labeled as unregistered securities by the SEC such as Solana and Cardano also increased, rising around 9.5% and 11%, respectively. Bitcoin edge higher, gaining about 1.6% to $30,847. “This is a win for the crypto industry,” said ... (full story)