Ripple's XRP token surged more than 30% at one point on Thursday after a judge in the Southern District of New York ruled that it's "not necessarily a security on its face."
The price of XRP was last higher by 28.90% at about 60 cents a coin, according to Coin Metrics.
The news gave hope to crypto investors, who breathed a sigh of relief that other altcoins may not be considered securities either.
Polygon's matic token gained 11%, while litecoin and the token tied to Solana jumped 8%, and Cardano's token advanced 7%.
"Also, it will likely have an important impact on the Binance and Coinbase lawsuits."
Persons:
Ripple's, XRP, Cantor Fitzgerald's Elliot Han
Organizations:
of, Metrics, Solana, CNBC
Locations:
Southern, of New York, U.S