Ripple has confirmed on more than one occasion that it is a separate entity from XRP and that it has no control over its price.

While there are several claims to the contrary, which means that this delicate battle could hold the key to XRP’s future, the case has been postponed again.

Whether that is the case or not, there has been a lawsuit against Ripple over the nature of XRP.

XRP is the third cryptocurrency in terms of total market capitalization, after Bitcoin and Ethereum, with an estimated price at the time of writing this article at $0.23 with a negative index of 0.47%.

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Analysts say that even if Ripple wins the case, it may not end its troubles with XRP.

Mr. David Schwartz, Director of Ripple’s Technical Office stated that he is convinced that Ripple’s attorneys will take proper care of the lawsuit.

Ripple has been accused of running an illegal ICO.

On August 5, 2019, some investors filed a complaint against Ripple with the SEC.

The lawsuit alleges that there is clear evidence that Ripple used the XRP token to generate significant revenue.

And that the company is now selling the tokens it owns due to the need for additional earning.

David Schwartz has his own opinion In the case of Ripple selling XRP as he explained that the company used to have different strategies at different points in time.

Whereas, to quote the following:

Originally their idea was to give XRP to all the people and companies who want to work with the XRP blockchain to increase the number of XRP coins in the market.

But there was no sense in continuing this approach once XRP got the market price.

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The strategy presented by David Schwartz assumed that selling XRP and pumping it into the market was in order to get an increase in the number of coins in circulation. He said:

Selling large amounts of XRP in the market over a small period of time causes the price of XRP to fall

It leads to grumbling for the people who keep it and thus it becomes not very useful for payments.

That is why they decided not to sell all the coins at once.

Ripple Says XRP Is Not a Security Currency:

Ripple Labs filed a cassation notice on January 15 that XRP is not a security token.

For Ripple lawyers, they are:

Kathleen R. Hartnett and Damian J. Marshall and Boise Schiller Flexner.

Perhaps their names are already familiar to the crypto community.

Heath Tarbert, Chairman of the US Commodity Futures Trading Commission (CFTC), presented his thoughts on XRP as a security or commodity.

However, he did not imply whether or not he was considering whether XRP was a commodity. and stated including:

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This is not clear.

Part of the problem is that our competence we share with the SEC.

If XRP is a security token, it will be subject to jurisdiction.

If it is a commodity, it is under our power.

Ripple says XRP is not a security token.

Brad Garlinghouse, CEO of Ripple, has always said that Ripple has no real control over the price of XRP in the crypto market despite its frequent sell-offs.

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