XRP token market capitalization has jumped to over $40 billion, its largest level since April 2022. A landmark court ruling drove XRP prices to nearly double over the past 24 hours before receding in early Asian hours on Friday, with XRP shorts losing the most money so far this year. Data from Coinglass shows XRP-tracked futures traders racked up a total of $58 million in losses as a U.S. judge ruled the sale of XRP tokens on exchanges did not constitute investment contracts.