XRP received sad news during the past week when Coinbase ditched the possibility of listing it all over again.
XRP comes right after Bitcoin (BTC) and Ethereum (ETH) regarding market cap. According to Ripple Labs, XRP is an independent digital asset that’s standing apart from the company.
Ripple always explains the clarity of XRP’s status as a security. They say that a security is defined as an ownership share that needs to be registered.
Ripple’s Chief Market Strategist Cory Johnson stated “We absolutely are not a security. We don’t meet the standards for what a security is based on the history of court law.”
More lawsuits claim XRP is a security
There are three lawsuits against Ripple that are claiming the currency XRP is a security.
Christophe de Courson, CEO of Olymp Capital, a blockchain and digital asset investment company, believes that if the verdict goes against Ripple’s favor, then it’s not just the coin that will suffer but also all the affiliated corporate entities.
“…XRP is not needed when using xCurrent, the product that gives banks’ ability to move efficiently money across the border. xCurrent being the most used ripple’s product, I think that even if a classification of XRP as a security will be painful for Ripple, they could cope with it,” Courson said.
Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX). https://t.co/qoECyR0V1f