Game-changing evidence emerges in Ripple vs SEC lawsuit

Bill Morgan, a crypto lawyer, recently took to Twitter to express his thoughts on the ongoing debate surrounding Ripple’s Liquidity Hub product. The debate erupted after an XRP influencer named Mr. Huber (@Leerzeit) on Twitter drew attention to Ripple’s newly launched Liquidity Hub, which was advertised as the company’s B2B Crypto Liquidity API Solution.

Morgan notes this move as good evidence

Pro-XRP lawyer Bill Morgan said Ripple’s decision to exclude XRP from the product could be used as “good evidence [in the ongoing lawsuit] if the case goes to trial.” Morgan explained that the products were launched by ripple ripple m***[email protected] Crypto/blockchain solutionPayment solution does not require XRP to work, and that the cryptocurrency and its underlying blockchain, the XRP Ledger (XRPL), can also thrive without Ripple incorporating it into all of its products.

The lawyer urged XRP enthusiasts not to worry about the issue because, after all, they do not expect to profit from Ripple’s efforts – one of the company’s main defenses in the case against the SEC.

Moreover, Morgan emphasized that as of May 2020, only Ripple’s ODL customers have been able to purchase their on-demand liquidity (ODL). However, the new Liquidity Hub was not just for ODL customers or people using international payments. Morgan argued that perhaps LH needed deeper liquidity pools than any single asset, such as XRP, could provide.

Ripple has since amended its Liquidity Hub statement to address the concerns raised by the absence of XRP from its list of assets.

Also read: Ripple’s XRP sales strategy: CTO confirms reduction in company stake

“XRP will be evaluated alongside other tokens for support in the product. We look forward to supporting XRP as it gains regulatory clarity in the US.”

What is Ripple’s reason for this?

Ripple attributes XRP’s absence to the unclear regulatory situation surrounding XRP in the United States. It promised to evaluate XRP along with other assets for potential inclusion in the program once the sixth-largest cryptocurrency in the world has regulatory certainty in the United States.

Is the decision to exclude XRP from the liquidity hub despite a previous promise to include it sound? What do you think of this development?