There is an XRP securities class action case going on. Today, the judge in the XRP securities class action has granted in part and denied in part Ripple’s motion to dismiss the case.
There is a lot going on here, but overall it is a victory for the plaintiffs. The securities claims survive. XRP stays in the crosshairs if it is security or not.
You can read more about the securities class action case here.
Meanwhile, here are some of reactions we found in twitter.
@edilson1492 says First of all XRP by itself, is not a security. Say for example the XRP that is bought/sold/traded by a random retail investor on the market can never be deemed a security. The case is about determining whether the XRP sold by Ripple in 2017,2018 could be deemed a security.
@honeynutcherri4 says Very bad. XRP is likely a security. What’s worse is the fact that now we have to wait even longer for the end result. This could take another 2 years before we know if XRP is legal or not. What a shame. What a mess. I feel bad for myself and thousands of other XRP bag holders.
@SupremeXRP says If $XRP was a security it wouldn’t be with the SBI’s or Moneygram’s of the world. Companies would not risk it if it was even a possibility.
February 27, 2020
| Ripple News