Sale of XRP on Exchanges Not Investment Contracts, Court Rules in SEC Case Against Ripple

Larsen and Garlinghouse’s own sale of XRP falls into this category, the order said, along with other distributions, including “distributions to employees as compensation and to third parties as part of Ripple’s Xpring initiative to develop new applications for XRP and the XRP Ledger.” Ripple’s motion for summary judgment in lieu of “programmatic sales,” other distributions, and Larsen’s and Garlinghouse’s sales, was granted.