The ongoing debate within the crypto community regarding Ripple’s right to sell XRP tokens has sparked a legal and market discussion that sheds light on the complexities surrounding Ripple’s actions in this regard.
Bill Morgan, a vocal advocate for XRP, asserts that Ripple has legal freedom to sell its XRP tokens, except in the case of institutional sales. He argues that these sales should not be considered investment contracts under the US Securities law. This view contrasts with a crypto analyst’s reference to a ruling by Judge Analisa Torres in July 2023, which suggested that Ripple’s XRP sales might now be considered securities transactions due to the public acknowledgment of Ripple’s involvement with XRP.
However, Morgan points out that the past five years’ performance of XRP’s price indicates that expecting profits from Ripple’s efforts to increase the price of the asset might not be reasonable. This debate over the legal ramifications of Ripple’s XRP sales comes at a time when Ripple recently transferred 80 million XRP tokens to an undisclosed wallet, sparking speculation within the XRP community.
These discussions have had an impact on the market performance of XRP, with the asset experiencing fluctuations in price and trading volume over the past week. Despite a recent 1.5% decline in price, XRP has shown resilience with a 2.6% increase over the past week. However, the trading volume for XRP has seen a dip, falling from over $1 billion to $827 million in the last 24 hours. These market movements reflect the ongoing debate and speculation surrounding Ripple’s actions with XRP.
