Stuart Alderoty, Ripple's Chief Legal Officer, has reaffirmed the non-security status of XRP, amid ongoing discussions and SEC appeals.
Clarifying XRP's Securities Status
In July 2023, Judge Analisa Torres ruled that XRP is not classified as a security when traded on secondary markets. Alderoty used an analogy with a Taylor Swift concert ticket, emphasizing that trading XRP does not automatically place it under securities law.
Ongoing Legal Proceedings
The SEC's appeal focuses on allegations against Ripple executives Brad Garlinghouse and Chris Larsen concerning XRP sales. Although the SEC does not dispute XRP's non-security status, the matter remains open possibly until 2025.
XRP Price Outlook
Despite the non-security confirmation, XRP's current price stands at $0.5469, reflecting a 0.6% drop. Analysts like Egrag Crypto foresee its rise to $1.50, despite a slight decline in trading volumes.
Despite Ripple's confidence in XRP's status, ongoing legal uncertainty causes market fluctuations and raises concerns.