Social network X user Joe Shaw and cryptocurrency lawyer Bill Morgan discussed the legal status of the XRP token issued by Ripple.

Shaw expressed uncertainty about the legal clarity surrounding XRP, so Morgan explained the intricacies of the current situation.

I think, Joe, it definitely exists. Only some bitcoin maximalists can't read and understand the court decision or are too biased or dumb to realize the judge's clear words that XRP itself is not a security," Morgan scathingly replied.

The lawyer also called attention to the Securities and Exchange Commission's (SEC) letter to the court. The document explicitly stated that the SEC did not seek review of the finding that XRP is not a security.

David Schwartz, Ripple's CTO, has recently spoken out on the topic as well, as he delved into the complexities of U.S. securities laws. He recalled the Howey case, a landmark Supreme Court decision that laid out the criteria for an investment contract.

Schwartz added that "the Howey test is flexible and cannot be applied automatically," leading to various court cases. Meanwhile, the crux of the issue is the expectation that profits will be realized "solely" through the efforts of other parties

Morgan agreed agreed that the CTO's explanation excelled at explaining a complex topic

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