XRP \u2013 the cryptocurrency that is closely associated with the FinTech company Ripple \u2013 has faced a significant amount of bearish volatility as of late, which many analysts believe has been caused by Ripple selling a large amount of tokens onto the markets each quarter.<\/p>\n
Brad Garlinghouse, the CEO and founder of Ripple<\/a>, is now trying to set the record straight when it comes to the controversy surrounding XRP and is shooting back at critics who claim that it is a security.<\/p>\n One oft-cited critique of XRP<\/a> is that it is likely to be designated as a securities product due to its close ties to Ripple<\/a>.<\/p>\n Although the debate surrounding this topic is quite heated and has split the crypto community, Garlinghouse explained in a tweet that it is \u201cclear\u201d that XRP is not a security, signaling that he is confident that Ripple will win the class action lawsuit they are currently facing from investors who claim that the cryptocurrency is a security token.<\/p>\n \u201cAs a defendant in the class action lawsuit, I won’t get into the details (response from Ripple is coming soon). I will say: SEC guidance isn’t issued by the Commission and isn’t law, rule or regulation. It’s clear XRP is not a security and the UK and others have said as much,\u201d he explained.<\/p><\/blockquote>\n 1\/ As a defendant in the class action lawsuit, I won't get into the details (response from Ripple is coming soon). I will say: SEC guidance isn't issued by the Commission and isn't law, rule or regulation. It's clear XRP is not a security and the UK and others have said as much.<\/p>\n — Brad Garlinghouse (@bgarlinghouse) August 27, 2019<\/a><\/p><\/blockquote>\nRipple CEO Claims It Is Clear That XRP is Not a Security<\/strong>\u00a0<\/strong><\/h2>\n
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