Ripple CEO Brad Garlinghouse argued why Ripple (XRP) is not a security during the CB Insights Future Of FinTech conference. He had three main arguments which were:
1) The XRP Ledger will keep on going even if the Ripple ends its business because it is a decentralized, open-source technology.
2) XRP is used as a utility by Ripple to solve the problem of providing fast and secure cross-border payments. Securities by definition are not utilities and are used as a claim to the profits made by the company in return for the company having permission to use those funds.
3) If you buy XRP, you are not buying shares of Ripple. Ripple is a private company, with investors…XRP does not give you access to dividends or profits that come from Ripple.
Ripple is down 4.04% over the past 24 hours and is currently trading at $0.490344. It can be bought with fiat dollars, credit, or debit cards at CEX.io and Changelly.