Bradley Sostack, the main plaintiff in the Ripple case, has filed a lawsuit alleging that the company sold XRP to retail investors as unregistered securities. Ripple CEO Brad Garlinghouse said in an interview that I think it's clear that XRP is not a security. 1. XRP exists independently of the company Ripple. If Ripple closes tomorrow, the XRP ecosystem will continue to exist. This is an independent open source technology. 2.Garlinghouse pointed out that XRP holders do not own Ripple, which is a private company. 3. Ripple has stated many times that XRP is not an investment vehicle. Instead, it is a digital asset that institutions can purchase to complete international capital transfers. According to Garlinghouse, this does not fit the characteristics of securities. XRP has many practical functions, which is very different from the concept of securities. It is reported that these and more arguments will still be considered by the US District Court. The two sides will hold talks on January 15.