The recent launch of Ripple Liquidity Hub, a cryptocurrency liquidity platform for businesses, has prompted Bill Morgan, a lawyer and cryptocurrency enthusiast, to express his opinions. Significantly, Ripple omitted XRP from the product presentation, surprising and drawing ire from the community.
Critics claim that the choice to remove XRP from the product launch reduces the value of XRP, which has caused controversy. Others think Ripple is cautious because of the continued regulatory uncertainty surrounding cryptocurrencies in the United States.
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
Holders of XRP, though, are reassured by Morgan that they shouldn’t be concerned. He notes that this development demonstrates the independence of XRPL and XRP from Ripple’s use of both in its products. The use of tokens in the liquidity hub was never factored into the price in 2021 or since, he continues, and this is strong proof for the court that Ripple products don’t require XRP either.
Even though XRP was mentioned in the product’s pilot phase, Ripple did specify that XRP will be evaluated along with other tokens for support within the product as the U.S. regulatory landscape becomes clearer, confirming a portion of the community’s hypothesis as to why XRP is not included in the new service.
Therefore, Ripple Liquidity Hub’s launch represents a significant step forward for the cryptocurrency industry as a whole. While the omission of XRP from the product launch may have surprised some people, it also sheds important light on XRP’s function in Ripple’s goods and services.
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