Even If Ripple “Wins” Class Action, It Won’t Mean Much For XRP: Here’s Why [Video]

There is a class action lawsuit filed against Ripple in 2018 by investors who are alleging that XRP is a security. Even if the suit is dismissed, it is unlikely to have any major effect on the cryptocurrency.

Why it won’t affect XRP in a large way

Ripple the company has long distanced itself from XRP the cryptocurrency.

The fintech firm has said that XRP is merely a cryptocurrency utilized by various blockchain-based solutions. Ripple CEO Brad Garlinghouse said that holders of XRP are not provided with equity in the company and the cryptocurrency exists independent of Ripple through an open source code.

For this specific class action, Ripple’s legal team focused on the timing of the suit. It argued that investors filed the lawsuit after a significant time has been passed since the investment.

On the legality of XRP, Ripple was relatively cautious in bringing …