The security status of XRP remains a highly contested topic, as the Ripple SEC lawsuit continues to hang in the balance. Analyst and lawyer Jeremy Hogan has recently taken to Twitter to share his opinion on the matter, asserting that XRP cannot be classified as a security. According to Hogan, attempting to classify XRP as a security would be contradictory to the purpose of securities laws. The understanding that XRP is not an investment contract is central to the argument, as the Howey Case (which shaped the modern legislative definition of security) deems a contract an integral part of the definition. Hogan argues that the SEC's case against Ripple fails to demonstrate the existence of any implied or explicit contract of investment. Additionally, according to Hogan, buying XRP is simply an investment like buying gold or other commodities – it involves no obligations of the issuer to do anything other than transfer the asset. In short, the designation of "security" is meant to ensure certain disclosures are made by the offerors, but does not protect buyers from making mistakes, and as such, does not apply to XRP's status.



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