In a lively debate regarding Ripple’s legal rights to sell XRP tokens, XRP advocate Bill Morgan and crypto analyst “Darkhorse” clashed over their perspectives. Morgan emphasized Ripple’s legal authority to sell XRP, asserting that the platform’s intentions do not revolve around profiting from XRP’s price appreciation.
Put on notice or not the price performance by XRP for the last 5 years suggests anyone who acquired XRP since the 13 July decision who thinks Ripple’s efforts are going to lead to profits from an increase in price of the asset does not have a ‘reasonable expectation’ and may be… https://t.co/WhKCyGWpA0
— bill morgan (@Belisarius2020) January 17, 2024
On January 14, Darkhorse brought attention to a post, highlighting Judge Analisa Torres’ ruling in July 2023, which, according to the analyst, did not grant Ripple the permission to sell XRP freely. Despite the judge deeming retail sales of XRP compliant with securities law, Darkhorse argued that there were restrictions imposed on XRP’s sale.
Several XRP defenders, including Bill Morgan, countered these arguments, expressing confidence in Ripple’s right to sell XRP. Morgan contended that the court only restricted institutional sales of XRP by Ripple, maintaining that “the injunction can only extend to preventing institutional sales of XRP by Ripple” until the SEC wins an appeal on the matter. Despite the analyst’s opposition, Morgan reiterated his stance.
He emphasized that nothing prevents Ripple from selling its XRP, as anyone can sell an asset they own. The crux of the issue lies in whether Ripple needs to register its XRP sales and offers with the SEC in the U.S. Morgan pointed out that if Ripple sells XRP programmatically, as it has done in the past, there’s no requirement to register these sales, as the judge determined such sales are not considered investment contracts.
Simultaneously, another post surfaced, highlighting the “reasonable” expectation of an XRP price surge due to Ripple’s efforts. In response, Morgan dismissed the notion that Ripple’s focus on profiting from XRP’s price growth is reasonable, suggesting it might be irrational or misguided.
