Ripple's XRP Non-Security Status Fails to Impress Market, Laments CEO

IconCryptoNewsTerminal Staff15 Jun, 2024

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Ripple's XRP Non-Security Status Fails to Impress Market, Laments CEO

Ripple CEO Brad Garlinghouse has expressed his surprise at the crypto market's lack of reaction to the recent regulatory clarity regarding XRP's non-security status in the United States. "XRP is one of the few crypto assets that can definitively say it's not a security in the U.S.," Garlinghouse said during a recent appearance at the XRP Ledger Apex conference. "That's in stark contrast to something like Ethereum, which is still battling out that 'security' question with the SEC over a spot ETF." Garlinghouse believes that XRP's non-security status gives it a significant advantage over other cryptocurrencies. He argues that it will make XRP more attractive to institutional investors and enterprises, who are wary of investing in assets that are considered to be securities. Despite Garlinghouse's optimism, the market has not yet responded positively to the news. XRP's price has remained relatively stable since the announcement, and it is still well below its all-time high of $3.84. It remains to be seen whether the market will eventually come to appreciate XRP's non-security status. However, Garlinghouse is confident that in the long run, it will give Ripple a major advantage over its competitors.

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