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October 2, 2022
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Ripple CEO says XRP will continue to be traded, even if Ripple ceases to exist

XRP lost much of its value after the SEC’s lawsuit against Ripple

Ripple’s CEO Brad Garlinghouse once again dealt with the SEC’s lawsuit against his company. In a recent interview, Garlinghouse countered the allegations and said the legal action was “misdirected” and that his crypto asset was traded for eight years in the United States before regulators filed the lawsuit last December. The Commission recently opted to file a motion to reject a petition filed by XRP investors seeking to amend the SEC’s complaint against Ripple.

In your reply, the SEC argued that investors cannot prove that cryptocurrency exchanges – that XRP previously removed from the list – “will reverse the course, or that the value of the XRP will increase if the Commission changes its claim.”

However, regardless of the outcome of the legal battle, Garlinghouse appears to be optimistic about the future of the XRP, at least outside the United States. He said:

“If you have a title, it gives you ownership of a company. If Ripple leaves, XRP will continue to negotiate. ”

The head of Ripple mentioned that other countries like Switzerland, Japan and Singapore apparently have “clarity and certainty” regarding the status of the XRP.

Meanwhile, cryptocurrency exchanges in the U.S. have begun to remove XRP from the list, as some believed that the asset presented certain risks. Recently, Kraken CEO Jesse Powell said that cryptocurrency is a “huge asymmetric risk for exchanges” and added:

“We must assume that the SEC’s case is in good faith. Judges tend to side with the agencies. If XRP is considered a security, the SEC will say that exchanges should know. ”

Recently, Garlinghouse told Reuters that the SEC lawsuit hindered the company’s activities in the United States, but “did not really affect” the company’s growth in Asia-Pacific. Affirming that he was unaware of any non-US based Exchange that interrupted XRP, he stated:

“We are seeing XRP liquidity activity grow outside the United States and continue to grow in Asia, especially in Japan.

XRP is traded on more than 200 exchanges worldwide. In fact, there are only three or four exchanges in the United States that have stopped trading. ”

Source: AMBCrypto

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