Ripple’s XRP Gains 66% On Partial Field Win

Ripple XRP overtook Binance’s BNB token to become the world’s four largest digital asset by market capitalization after its 66% lead on a post-court ruling boosted its valuation to $41.44 billion, according to data from CoinDesk. BNB – which rose 6.5% following the court ruling – now has a market capitalization of $40.57 billion. However, the Ripple bulls should not forget the second part of yesterday’s court ruling. “The Court found that Ripple violated securities laws, particularly with respect to direct sales to institutional investors,” CoinShares Chief Product Officer Townsend Lansing wrote in an email to CoinDesk. “As such, XRP is not only considered a security, but questions have arisen regarding the legality of its offering,” he continued. “With respect to these sales, the Court confirmed that the law had indeed been violated, marking a significant victory for the SEC and setting a precedent for its legal actions against other cryptocurrencies.”