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Ripple Facing Trouble Over Its New Project Due To XRP Lawsuit?

XRP News: Ripple Labs and its executives are still battling against the U.S. Securities and Exchange Commission (SEC) to prove that its native crypto, XRP is not a “Security”. Amid this legal tussle, the Chief Legal Officer of Ripple, Stuart Alderoty issued clarification regarding the exclusion of XRP from Liquidity Hub (LH).

Also Read: SEC Losing Grip On Supreme Court Case; Will This Help Ripple?

XRP Excluded From Liquidity Hub

Ripple’s Legal Chief in a Twitter thread stated that he wanted to clarify queries about their fresh product Liquidity Hub. He mentioned that their LH is an enterprise product and doesn’t cater to retail. However, there is low liquidity in the United States due to legal uncertainty.

Meanwhile, Ripple and the team highlighted that they are keen to support XRP in Liquidity Hub despite legal complications. Alderoty added that it is been clear and out that the hub was built to access multiple cryptos. Read More XRP News Here…

Ripple Legal Chief affirmed that XRP does not have regulatory clarity in the US but it is important for enterprise users. The defendants in the XRP lawsuit recently filed their response to the Commission’s letter of Supplemental Authority. The SEC filed the letter to gain support in its motion for Summary Judgment.

Also Read: This On-Chain Bitcoin Indicator Hints Huge Bullish Potential, Is Bear Market Over?

However, Ripple’s On Demand Liquidity (ODL) has been using XRP for years, he assured that it will also be used ahead.

On the market side, XRP price has managed to jump by 35% over the last 30 days. It has managed to outperform Bitcoin (BTC) in the same period of time. XRP is trading at an average price of $0.516, at the press time.

Also Read: Key Agendas In US SEC Chair Gensler Prepared Testimony Before US House

The post Ripple Facing Trouble Over Its New Project Due To XRP Lawsuit? appeared first on CoinGape.

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