The XRP community, closely following the action against Ripple Labs, is set to witness a crucial hearing today. It is a class certification case to answer whether Ripple’s token, XRP, is a security. According to the official notification, plaintiff Bradley Sostak is seeking to represent all XRP holders who either owned the cryptocurrency and sold it at a loss or still own it today. Sostak argues in the lawsuit that Ripple’s token is a security and that the blockchain firm violated federal securities laws by selling XRP without appropriately registering it.