Exchanges Won’t Delist XRP Even If SEC Wins Appeal: Hogan

Prominent lawyer Jeremy Hogan believes exchanges will continue to list XRP regardless of whether the SEC wins its appeal against Ripple.

XRP will not be delisted on exchanges, irrespective of whether the SEC wins its appeal against Ripple.

XRP Community Concerned About SEC Appeal

Recall that the Securities and Exchange Commission requested to file an interlocutory appeal in the Ripple lawsuit. As reported, the SEC’s interlocutory appeal will cover Judge Torres’ decision on Ripple’s programmatic sales and other distributions. 

Notably, several XRP enthusiasts are concerned about the implications of a higher court declaring Ripple’s programmatic XRP sales securities. 

In a tweet today, prominent XRP YouTuber Moon Lambo speculated that XRP secondary market trading would be affected if all programmatic sales were found to be securities. 

“Isn’t that the functional equivalent of XRP being a security in such a hypothetical?” he added.  

In addition, Dizer Capital founder Yassin Mobarak provided clarity to the question. He quizzed the possibility of crypto exchanges delisting XRP if programmatic sales are found to be securities. 

Exchanges Won’t Delist XRP

In response, Attorney Hogan believes crypto exchanges will not delist XRP even if the court rules that programmatic sales constitute investment contracts. 

According to Hogan, Ripple and its founders are the only ones who can sell XRP as an investment contract. He explained that exchanges will not delist XRP if they can source the coin from secondary markets. 

Only Ripple and other founders can sell XRP as an investment contract so I don't think they will delist as long as they can source XRP from the secondary market (and not from Ripple directly).

— Jeremy Hogan (@attorneyjeremy1) August 10, 2023

Hogan Addresses XRP Community Concerns 

Recall that multiple crypto exchanges, including Kraken and Coinbase, delisted XRP after the SEC charged Ripple with violating federal securities laws. 

These exchanges made a U-turn and relisted XRP after the court declared the coin a non-security. With the SEC requesting to appeal the programmatic sales ruling, many speculate that exchanges could delist XRP again. 

In a separate tweet, Attorney Hogan emphasized that XRP is not a security. He stressed that Ripple may not be allowed to sell XRP via exchanges if the SEC wins the appeal. 

He reiterated that exchanges will keep listing XRP if they confirm that Ripple is not making sales on their platforms.