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Morgan believes XRP was not added as a supported asset in the liquidity hub due to the product’s nature or commercial imperatives.
Members of the XRP community have been reacting to the exclusion of XRP from the list of supported assets in Ripple’s Liquidity Hub.
Yesterday, the leading Silicon Valley tech company launched its much-anticipated liquidity hub following successful experiments with the pilot version in closed beta.
Ripple’s liquidity hub, which eliminates all barriers for fiat-to-crypto integrations, supports eight assets, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC), Litecoin (LTC), Tether (USDT), USD Coin (USDC), and the US dollar (USD).
Notably, XRP was not included in the list of supported assets, sparking widespread reactions from the community.
Pro-XRP Lawyer Reacts
Bill Morgan, a pro-XRP lawyer, recalled that a few months after Ripple’s lawsuit with the SEC commenced, the company had included XRP among the list of supported assets in the liquidity hub document.
“I wondered if Ripple’s assessment of its prospects has become more negative since 2021. I don’t think so,” Morgan added.
The pro-XRP lawyer noted that since there is a significant risk of Ripple losing the lawsuit against the SEC, the blockchain company may have excluded XRP from the liquidity hub based on the nature of the product or its commercial imperatives.
but the Defense Ripple ran is surely more robust and effective that anyone, including the SEC, imagined except for Ripple and its attorneys. The reason may the nature of the product or commercial imperatives. It is one thing to use XRP in the ODL product /3
— bill morgan (@Belisarius2020) April 15, 2023
He added that Ripple not including XRP in the product can enable the company to push the liquidity hub in the US market without having users worry about a “potential securities contravention issue.”
Morgan speculates that Ripple’s liquidity hub without XRP is a good hedge if it loses the case against the SEC.
“It may also diversify Ripple’s revenue source, which relies almost entirely on XRP sales to ODL customers.”
Ripple Hints At Possible XRP Integration
The exclusion of XRP from the list has caused tension in the XRP community, as many believe Ripple has no confidence in winning the lawsuit. However, Ripple has tried to calm the situation by assuring supporters of its plans to roll out support for XRP alongside other crypto assets. Per Ripple, XRP will be evaluated alongside other tokens for support within the product.
“ We look forward to supporting XRP as it receives regulatory clarity in the US.”
