The Case So Far The high-profile lawsuit first made headlines in December 2020 when the SEC filed a complaint against Ripple, its CEO Brad Garlinghouse, and co-founder Chris Larsen, alleging that they conducted an unregistered securities offering of XRP. This move caused a major drop in XRP's price and led to several crypto exchanges delisting the coin. Ripple's Defense Ripple has vehemently denied the allegations, stating that XRP is not a security but a cryptocurrency like Bitcoin and Ethereum. The company argues that XRP has a different use case and is not dependent on Ripple's actions. They also claim that the SEC has failed to provide clear guidelines on how to determine whether a digital asset is a security or not, causing confusion in the industry. Impact on XRP and the Crypto Market The uncertainty surrounding the lawsuit has had a significant impact on XRP's price and the overall crypto market. XRP's value has fluctuated greatly, with major drops eve...
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