Kind of. Ripple was found to be selling a security to the institutions. The secondary market was ruled not to be a security though and that is how most investors got their XRP.
The token in and of itself is not a security though.
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I mean that should be a rather bullish signal for all of crypto then right?
I take it as good news. If nothing else it sets a precedent for defense attorneys to use again Gensler.
So yeah I think this could be bullish but markets have a mind of their own.