Ripple: If XRP is classified as a security, it may destroy the entire XRP market

New court documents show that Ripple claimed in a motion filed with the court that classifying XRP as a security could destroy the entire market for this third largest cryptocurrency. The company's legal team stated in the motion to dismiss the lawsuit that "If (plaintiff Bradley Sostack) is allowed to challenge the classification of XRP, this not only exists a threat that may eliminate XRP's utility as a currency, but also subverts and destroys it from a wider level The entire market of XRP-the market has traded more than $ 500 billion in the past two years. This move will seriously harm the interests of thousands of individual XRP holders worldwide, many of whom disagree (plaintiff) The claim that XRP is a security. "