{"id":316096,"date":"2023-04-10T13:26:57","date_gmt":"2023-04-10T12:26:57","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=316096"},"modified":"2023-07-18T02:49:38","modified_gmt":"2023-07-18T01:49:38","slug":"jeremy-hogan-highlights-why-xrp-is-not-a-security","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/jeremy-hogan-highlights-why-xrp-is-not-a-security\/","title":{"rendered":"Attorney Jeremy Hogan highlights why XRP is not a security"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Jeremy Hogan believes the SEC has failed in its arguments that XRP is a security. Besides, Jeremy Hogan is a partner at Hogan & Hogan law firm.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to him, the SEC defining XRP as a security is wrong. The token doesn't fit into the category of &#8220;investment contract&#8221;, which is the only one that should have defined it. This is because other definitions of security, such as bonds or stocks, don't fit XRP.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hogan <\/span><a href=\"https:\/\/twitter.com\/attorneyjeremy1\/status\/1644907214581145600\"><span style=\"font-weight: 400;\">believes<\/span><\/a><span style=\"font-weight: 400;\"> the case is not about using the <\/span><span style=\"font-weight: 400;\">$1.3 billion that<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\"><a href=\"https:\/\/cryptoslate.com\/pitches\/deaton-forecasts-verdict-date-for-ripple-vs-sec-legal-battle\/\">Ripple<\/a> raised to fund the business, as the SEC argued. But it should be about the existence of an investment contract during the sale.<\/span><\/p>\n<h2><b>XRP is a security if it fits an investment contract<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Hogan explained in a Twitter<\/span><a href=\"https:\/\/twitter.com\/attorneyjeremy1\/status\/1644907190455529473?\"><span style=\"font-weight: 400;\">\u00a0post<\/span><\/a><span style=\"font-weight: 400;\"> that the SEC failed to establish a solid ground for its fight against Ripple legally. The SEC should have explicitly or impliedly demonstrated that XRP was an investment contract, but it didn't. Instead, the SEC only argued that the purchase agreement made XRP an investment contract.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hogan believes that basing the argument on the purchase agreement has separated the investment and the contract, making it a simple purchase and nothing else. As such, Ripple only has to transfer the assets to the investors without doing anything more.\u00a0<\/span><\/p>\n<blockquote><p>\u201cThat argument tears the investment from the contract [\u2026] A simple purchase, without more, cannot be an \u2018investment contract.\u2019 it is just an investment (like buying an ounce of gold) as there is no obligation for Ripple to do anything except transfer the asset,\u201d added Hogan.<\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">If there was an explicit or implied contract of such sort, then SEC could win its argument. However, there wasn\u2019t such a contract between Ripple Labs and investors of XRP during the sale negating the commission\u2019s claims.\u00a0<\/span><\/p>\n<h2><b>XRP Price Outlook In Recent Times\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">XRP<\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/xrp\/\"><span style=\"font-weight: 400;\"> price<\/span><\/a><span style=\"font-weight: 400;\"> today is $0.5049, indicating a drop of 0.10% on the daily candle. Its market cap is also showing an increase of 0.54%, while its trading volume has grown by 15.28% in the same time frame. But XRP has tanked on its seven-day price gains, currently at a 1.98% loss as of press time.<\/span><\/p>\n<figure id=\"attachment_316122\" aria-describedby=\"caption-attachment-316122\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-316122 size-large\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/XRPUSDT_2023-04-10_16-50-37-1024x595.png\" alt=\"XRP\" width=\"1024\" height=\"595\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/XRPUSDT_2023-04-10_16-50-37-1024x595.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/XRPUSDT_2023-04-10_16-50-37-300x174.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/XRPUSDT_2023-04-10_16-50-37-768x446.png 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/XRPUSDT_2023-04-10_16-50-37.png 1116w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption id=\"caption-attachment-316122\" class=\"wp-caption-text\">Source: Tradingview.com<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">\u00a0The <\/span><span style=\"font-weight: 400;\">global market cap<\/span><span style=\"font-weight: 400;\"> has grown 1.26% in the last 24 hours.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">XRP has continually proven to be <\/span><a href=\"https:\/\/twitter.com\/JohnEDeaton1\/status\/1642542600065261569?\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">a resilient token<\/span><\/a><span style=\"font-weight: 400;\"> amid the legal between Ripple Labs and the US SEC. Even though it was nowhere near its all-time high of $3.8419 on January 4, 2018, the token has grown by 17968.83% above its all-time low of $0.002802 on July 7, 2014. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jeremy Hogan believes the SEC has failed in its arguments that XRP is a security. Besides, Jeremy Hogan is a partner at Hogan &#038; Hogan law firm.\u00a0 According to him, the SEC defining XRP as a security is wrong. The token doesn&#8217;t fit into the category of &#8220;investment contract&#8221;, which is the only one that [&hellip;]<\/p>\n","protected":false},"author":1411,"featured_media":313061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Attorney Jeremy Hogan highlights why XRP is not a security<\/title>\n<meta name=\"description\" content=\"Jeremy Hogan believes the commission failed in its arguments that XRP is a security. 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