A US District Judge has not been persuaded that the case against Ripley, an American blockchain company focused on payment technologies, was about to turn the $ 500 billion XRP market on its head, and the case is continuing.
As it was reported in January, Ripley claimed that the continuation of the case against the company and its CEO Brad Garlinghouse, brought by investors represented by lead plaintiff Bradley Sostak, would not only endanger XRP’s utility as a currency. The XRP market has been created, covering over $ 500 billion over the last two years.
On February 26, US District Judge Phyllis Hamilton of the Northern District of California decided that the case would go ahead, though the lawsuit against the company was reduced – some in favor of Ripples, some not. The judge dismissed several lawsuits filed under California state law, but allowed a claim filed under federal law.