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A heated debate recently broke out on the X platform regarding the legal status of XRP, after a user criticized the token for lacking legal clarity and institutional backing. In response, Ripple lawyer Bill Morgan strongly refuted the claim, calling it “the biggest lie in crypto this year.”
Morgan referred to the 2023 ruling by Judge Analisa Torres in the high-profile Ripple vs. SEC case, which concluded that XRP is not a security when traded on exchanges or distributed to the public. Ignoring this decision to argue that XRP lacks legal clarity, he said, is a misrepresentation of the facts.
“The legal reasoning in the Ripple case provides persuasive clarity,” Morgan emphasized. “Compared to Bitcoin—which has never been subject to such legal scrutiny—XRP arguably has even stronger legal footing.”
His comments come as the crypto community awaits a final outcome in the Ripple-SEC lawsuit. Although the judge recently denied a joint request for an indicative ruling, legal experts expect a conclusion is near.
Previously, Judge Torres clarified that Ripple’s institutional sales of XRP could be considered securities transactions, but the token itself was not a security in secondary market sales or broader distributions. This ruling marked a major win for Ripple and the wider crypto industry.
Bill Morgan also highlighted that the SEC failed to prove Ripple promoted XRP to retail investors. “That’s not just an opinion—it’s a legal fact,” he said. “Legal clarity for XRP has been established, regardless of other ongoing or future lawsuits.”
Legal expert Fred Rispoli has similarly stated, “Only Bitcoin and XRP among large-cap tokens have legal clarity.” His remarks reinforce Morgan’s stance on the issue.
Recently, the debate has reignited after Morgan pointed out a renewed filing in the Ripple case. Attorney Justin Keener submitted what he described as “decisive evidence” in the lawsuit, further fueling speculation about the case’s outcome and its broader implications.
