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Attorney Morgan says the omission of $XRP from Ripple’s Liquidity Hub could be great evidence for the company if the lawsuit goes to trial.
Members of the $XRP community have continued to share their thoughts about Ripple’s move to exclude the sixth-largest cryptocurrency $XRP from the recently launched Liquidity Hub solution.
According to prominent $XRP influencer Mr. Huber (@Leerzeit), Ripple noted a year into its lawsuit with the SEC that $XRP will be the first asset the Liquidity Hub solution will support.
He added that the statement motivated many to purchase $XRP dip in anticipation that the price will soar when the product eventually launches. However, things didn’t go as planned, as Ripple omitted $XRP from Liquidity Hub’s list of supported assets.
Morgan Says It’s Great Evidence
Reacting to the development, pro-$XRP lawyer Bill Morgan said Ripple’s decision to exclude $XRP from the product could be used as “great evidence [in the ongoing lawsuit] if the case goes to trial.”
The idea, as explained by attorney Morgan, is that products launched by Ripple do not require $XRP to function and that the cryptocurrency and its underlying blockchain, $XRP Ledger (XRPL), can also thrive without Ripple incorporating it into every one of its products.
The attorney urged $XRP enthusiasts not to be bothered about the issue because, after all, they don’t expect profit from Ripple’s efforts- one of the company’s major defenses in its case against the SEC.
It’s great evidence for trial if the matter goes to trial that Ripple products don’t need $XRP and the XRPL & $XRP can function without Ripple using $XRP in all of its particular products. $XRP holders shouldn’t be concerned. They don’t expect profits from Ripple’s efforts. https://t.co/As55VirOD2
— bill morgan (@Belisarius2020) April 16, 2023
It bears mentioning that some legal experts, including attorney John Deaton, have speculated that the lawsuit could be taken to trial to enable a Jury to decide all disputed facts.
Morgan’s recent remark comes days after he stated that Ripple excluded $XRP from Liquidity Hub’s list of supported assets due to the “product’s nature and commercial imperatives.”
Ripple’s Liquidity Hub Launches Without $XRP
As reported, Ripple’s Liquidity Hub product launched last week, supporting top crypto assets, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, etc.
Surprisingly, Ripple excluded $XRP from the list of supported assets despite initially listing $XRP in the product’s documentation. The development stirred controversy in the community, prompting Ripple to issue a statement to address these concerns.
According to Ripple, $XRP’s omission is due to the ambiguous regulatory environment surrounding $XRP in the US. It promised to evaluate $XRP alongside other assets for possible inclusion in the product once the sixth-largest cryptocurrency gets regulatory clarity in the United States.