Legal Expert Asserts Ripple’s Right To Sell Any Amount of XRP 

• Lawyer Bill Morgan argued that no inherent restriction prevents Ripple from selling its XRP.
• The view arose amid debates that Ripple has no unrestricted rights to sell XRP.
• Ripple’s API data suggests the payment firm marketed $142 million in XRP in December 2023.

Bill Morgan, a prominent pro-crypto legal expert, has weighed in on the ongoing debate surrounding Ripple’s ability to sell the XRP it owns to the public. In a recent tweet, Morgan emphasized that no inherent restriction prevents the blockchain-based payment protocol from selling its XRP. He likened it to any entity selling an asset it owns.

The argument arose as an X user contested that the U.S. court granted Ripple unrestricted rights to sell any amount of XRP, provided such sales adhere to a programmatic framework. 

According to Morgan, the crux of the matter is whether Ripple needs to register its sales and offers of XRP with the U.S. Securities and Exchange Commission (SEC). He clarified that if Ripple opts to sell XRP programmatically, as it has done in the past, the company may not necessarily be required to register these sales. 

The reasoning behind this, as mentioned by Morgan, stems from a previous legal judgment that classified such sales by Ripple as not falling under the category of investment contracts. Specifically, programmatic sales involve the distribution of XRP through open market channels, such as online platforms or brokers. 

In the victory ruling of July 2023, the presiding judge sided with Ripple, affirming that programmatic sales were not securities offerings and did not violate any legal provisions.

Notably, the American payment firm has continued to orchestrate its periodic sales of XRP, mainly from tokens released in its monthly unlock schedule. Based on data from Ripple’s API, it has been disclosed that the payment firm marketed as much as $142 million in XRP in December 2023 alone.