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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.