Ripple May Ditch XRP Token If It Loses SEC Lawsuit, Brad Garlinghouse Says


Ripple could ditch XRP and replace it with an alternative if it loses the lawsuit with the US SEC, according to CEO Brad Garlinghouse.

April 2, 2021 | AtoZ Markets – Ripple is considering the XRP phase-out scenario. This opinion was expressed by the head of the company, Brad Garlinghouse in a CNN interview with Julia Chatterley.

Despite the lawsuit with the US Securities and Exchange Commission (SEC), the company is making progress, Garlinghouse said.

The good news for Ripple is that we continue to do partnerships. We have signed contracts with 20 financial institutions around the world since the SEC filed a lawsuit, ”Garlinghouse said.

At the same time, he allowed the company to refuse XRP, although he believes that the exchange regulator is essentially engaged in a witch hunt. Thus, Garlinghouse commented on the absence of SEC claims against Bitcoin and Ether.

Ripple price almost did not react to the statement

This is the first time the San Francisco-based fintech company has allowed XRP to be dropped. However, Garlinghouse’s statements do not seem to have any effect on the price of the token.

Ripple May Ditch XRP Token If It Loses SEC Lawsuit, Brad Garlinghouse Says

Source: nomics.com

The price of the token in the XRP/USD pair at the time of writing has increased by 2.05% to $0.58. Market capitalization jumped $614.8 million.

Earlier in an interview with Bloomberg, the head of Ripple said he hopes to settle the conflict with the new SEC administration.

“I hope that Gary Gensler, probably the new SEC chairman, will be confirmed in a couple of weeks. This is a good opportunity to speak with the new management,” Garlinghouse said.

As a reminder, the exchange regulator filed a lawsuit against Ripple at the end of 2020. The commission says XRP falls within the definition of a security, but the California-based startup strongly disagrees. Ripple emphasizes that XRP is a cryptocurrency, just like Bitcoin or Ether.

Think we missed something? Let us know in the comment section below.

  1. Jason Truman says:

    They may not lose, but they are not a decentralized platform neither

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