Ripple’s Right to Sell XRP
A heated discussion about Ripple’s authority to sell XRP tokens has begun within the crypto community. The debate was sparked by an exchange between XRP advocate Bill Morgan and crypto analyst “Darkhorse” on the X platform.
Bill Morgan, a vocal supporter of XRP, argues that Ripple faces no legal constraints on selling its XRP tokens, except in the context of institutional sales. He argues Ripple is within its legal rights to sell XRP. He emphasizes that nothing prevents Ripple from selling its XRP, and the real question is whether it needs to register these sales with the Securities and Exchange Commission (SEC) in the U.S.
Following Judge Torres’ decision, another X user pointed out a crucial aspect regarding Ripple’s XRP sales. Due to the acknowledgment of Ripple’s involvement with XRP, these sales might now be considered securities transactions, implying expectations of increased value due to Ripple’s activities.
However, Morgan points to the past five years’ performance of XRP’s price as evidence that expecting profits from Ripple’s efforts may not be reasonable. He suggests that those buying XRP post-July 13th with such expectations might be deemed irrational.
What’s Happening with XRP’s Price?
This legal debate unfolds against the backdrop of Ripple’s recent transfer of 80 million XRP tokens, valued at approximately $46.18 million, to an undisclosed wallet. The transaction has triggered speculation within the XRP community.
These developments have influenced XRP’s market performance. Experiencing a 1.5% decline in the past 24 hours, XRP’s price dipped to $0.566. However, over the past week, XRP has displayed resilience with a 2.6% increase.
Hot Take
A series of heated tweets has ignited a debate within the crypto community about Ripple’s authority to sell XRP tokens. This discussion was sparked by a recent exchange between XRP advocate Bill Morgan and crypto analyst “Darkhorse” on the X platform.
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