Legal Debate: Ripple’s Rights To Sell XRP
The crypto community is currently engaged in a discussion about whether Ripple has the legal right to sell its XRP tokens. XRP advocate Bill Morgan argues that Ripple can sell its XRP holdings without any legal constraints, except for institutional sales. He disagrees with a crypto analyst known as “Darkhorse,” who refers to a ruling by Judge Analisa Torres in July 2023 that supposedly prohibits Ripple from selling XRP.
Morgan emphasizes that Ripple’s sales should not be considered investment contracts under US Securities law. He acknowledges that Ripple may need to register its sales and offers of XRP with the SEC, but there is nothing stopping the company from selling its tokens.
Ripple XRP Sale And Market Impact
The recent transfer of 80 million XRP tokens by Ripple has sparked speculation within the XRP community. The transaction, valued at $46.18 million, was sent to an undisclosed wallet. In terms of market performance, XRP has experienced a 1.5% decline in the past 24 hours, resulting in a price drop to $0.566. However, over the past week, XRP has shown resilience with a 2.6% increase. The trading volume for XRP has also decreased from over $1 billion to $827 million in the last 24 hours.
Hot Take: Ripple’s Legal Standing and Market Speculation
The ongoing debate surrounding Ripple’s rights to sell XRP highlights the legal complexities and market implications of their actions. While Bill Morgan argues that Ripple is legally allowed to sell its tokens, others question whether these sales should now be considered securities transactions. This debate coincides with recent market fluctuations in XRP’s price and trading volume, fueled by speculation surrounding Ripple’s activities. As the discussion continues, it remains to be seen how Ripple’s legal standing and market performance will evolve.
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