Crypto lawyer Bill Morgan recently stated that the XRP sales following the announcement of Ripple's Liquidity Hub show that investors had no expectation of profit, thereby beating a crucial element of the controversial Howey Test.
Some speculated XRP’s exclusion may indicate Ripple’s anticipation that the crypto would eventually be impossible to operate in the United States jOthers suggested that the firm had reached a settlement agreement with the securities regulator following which XRP was taken off the list.
However, another group of Twitter users took this opportunity to figure out a positive outcome for Ripple. A crypto sleuth who goes by the name @Leerzeit on Twitter pointed out that Ripple was almost a year into the SEC lawsuit when their Liquidity Hub product was unveiled. The Twitter account added that even though the announcement stated that XRP would be supported, investors kept pouring their money into XRP to buy the dip.to share his take on the recent developments.
This essentially beats two of the four prongs of the controversial Howey Test, which has been cited multiple times by the SEC during the hearings. Morgan believes that the expectation of profit was not there among XRP buyers, which can be used as a defense by Ripple.
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