Lawsuit Impact Diminished? XRP Price Rebounds, CEO Responds to Five Key Questions on Twitter

The Ripple lawsuit, which has been ongoing since the end of December, continues to escalate. The price of XRP showed significant improvement on 1/7, and CEO Brad Garlinghouse took to Twitter to list several key issues and explain them one by one. He emphasized that behind the silence, the team is working diligently and stressed that they will not give up this battle.

Why Not Settle with the SEC

Ripple CEO Brad Garlinghouse stated that he couldn't provide specifics on this matter, but the company has been working diligently and trying to resolve the issue with the new officials to allow the XRP community to continue to innovate, protect consumers, and maintain market order.

Is there a Fee to List on Exchanges? When Can it be Relisted?

Garlinghouse pointed out that XRP is one of the most liquid digital assets globally, with 95% of its trading occurring outside the U.S. Ripple cannot intervene in where XRP is listed, claiming that Ripple is a decentralized, open-source project. He emphasized:

"Delisting" and "suspending trading" are two different things; most platforms only suspend trading. In the U.S., there are eight different government agencies, each with sometimes completely opposing views on cryptocurrencies. Therefore, crypto industry players face conflicting policies, and some platforms act more conservatively, which is not surprising."

When Will Ripple Respond to the SEC? Why is Ripple so Silent?

Garlinghouse referenced a tweet from Ripple's legal advisor Stuart Alderoty, who stated that legal processes take time, and they are not just sitting idle despite appearing silent. They will formally respond to the SEC's unverified allegations within a few weeks.

To all asking for updates on the SEC lawsuit: no surprise, the legal process takes time! We may be quiet but we are not idle. Our full legal team will announce themselves shortly and we’ll be filing our initial response to the SEC’s unproven allegations within weeks.

— Stuart Alderoty (@s_alderoty) January 7, 2021

Do Investors Have Confidence in Ripple?

Yes, Garlinghouse pointed out that Ripple has real shareholders, and to actually own Ripple equity, one must purchase Ripple's stock rather than XRP. He also expressed disappointment in Tetragon, the lead investor in Ripple's 2019 Series C funding round, which has sued Ripple, demanding the redemption of shares.

Are Users Paid to Promote XRP Adoption?

Garlinghouse acknowledged that rewards in XRP are offered to users of the On-Demand Liquidity (ODL) platform, emphasizing that everything is legal and compliant. Companies like PayPal and Visa have also provided or continue to provide rewards to partners.

The above are the latest responses from Ripple's CEO. Currently, the delisting effect of XRP has come to an end, and the price rebounded yesterday, with the highest daily increase on 1/7 reaching 63%, briefly touching $0.367 and currently falling back to the $0.3 level.

Meanwhile, Ripple supporters remain as enthusiastic as ever, continuously asking how to purchase Ripple's stock under Garlinghouse's tweets.

Sell me some of that ripple stock, I'm in

— Damien inigueZ (@Iniguez619) January 7, 2021