Ripple has secured a significant procedural victory in the Oakland class action lawsuit against it. The U.S. District Court for the Northern District of California dismissed several claims against Ripple, including federal and state law securities claims. However, the dismissal did not address the fundamental question of whether XRP is a security.

The court ruled that the status of XRP as a security is still uncertain and will be decided by a jury. This means that the core issue of XRP's security status will be decided in a trial, leaving the legal status of XRP uncertain.

Ripple's Chief Legal Officer, Stu Alderoty, expressed satisfaction with the court's decision, stating that the dismissal of class action claims is a procedural victory for Ripple. However, the court's decision to leave the security status of XRP to a jury verdict means that the legal battle is far from over.

Another civil securities lawsuit against Ripple CEO Brad Garlinghouse will also go to trial. The court denied part of Ripple's motion for summary judgment on the claim that Garlinghouse sold unregistered securities in 2017. The plaintiff alleges that Garlinghouse lied about being "very, very long XRP" while dumping millions of XRP on various exchanges.

Legal expert Fred Rispoli noted that the likelihood of a settlement is high, given the low damages and potential negative jury verdict for Ripple if the plaintiff wins. Rispoli also stressed that the question as to whether XRP is a security or not remains unanswered and noted that federal legislation is required to address this issue.

Ripple's attorneys argue that XRP does not fit the definition of a security and therefore, the case should be thrown out. However, Judge Hamilton decided that the case should proceed to trial and held that it cannot be decided as a matter of law that Ripple's conduct would have led a reasonable investor to expect profits because of the company's efforts.

The court ordered both parties to reconsider their motions to seal any part of the briefs and set a new deadline to file the motion to seal with the narrowed grounds. The court also allowed the parties an extra three weeks to file a motion to seal some of the exhibits they have used.

Overall, Ripple's partial victory in the lawsuit is a significant development, but the legal battle over XRP's security status is far from over.