Pierre Rochard: XRP is Not a Security, Legal Uncertainty Remains
Key Takeaways
Pierre Rochard, Vice President of Riot Platforms, argues that Ripple (XRP) is not a security. This statement comes amid discussions about a national crypto reserve under Donald Trump’s administration. While XRP remains under regulatory scrutiny, the likelihood of an ETF approval has risen to 78%.
Rochard’s Argument Against XRP’s Security Status
Pierre Rochard commented on the platform X (formerly Twitter) regarding the regulatory classification of XRP. In his view, XRP is not a security because Ripple does not owe investors any obligation or specific benefit. He emphasized that Ripple is free to sell XRP without investors being able to take action against it.
This statement contradicts long-standing criticism that Ripple influences the market through the sale of XRP. Rochard argues that many financial products, even if considered worthless or harmful, are not automatically classified as securities.
Regulatory Developments and Previous Court Rulings
The regulatory uncertainty surrounding XRP has persisted for years. A significant milestone was reached in 2023 when Judge Analisa Torres ruled that the secondary sale of XRP does not constitute a securities transaction. This ruling significantly weakened the position of the U.S. Securities and Exchange Commission (SEC).
Nevertheless, the legal battle over Ripple remains unresolved, while the SEC has dropped cases against other entities such as OpenSea and MetaMask. Rochard’s statements add another perspective to the ongoing debate on cryptocurrency regulation.
XRP Price Trends and ETF Speculations
Despite regulatory uncertainties, XRP has remained stable in the market. The token’s price recently increased by 4.08% to $2.44. At the same time, hopes for the approval of an XRP ETF (Exchange Traded Fund) in 2025 are growing. According to Polymarket, the probability currently stands at 78%.
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Rising institutional demand and regulatory clarity could significantly influence XRP’s future. Whether Rochard’s assessment will prevail remains to be seen.
Our Assessment
The discussion surrounding XRP’s regulatory status remains a central topic in the crypto market. Rochard’s argument is not new but gains fresh relevance due to political developments in the U.S. The increasing likelihood of an ETF approval could provide additional momentum for XRP. However, it remains to be seen how the regulatory landscape will evolve and whether Ripple will benefit from these changes in the long run.
| Symbol | XRP |
| Coin type | Alt Coin |
| Transaction Speed | High |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $2.52 |
| 24h % | 2.40 % |
| 7d % | 13.22 % |
| 30d % | -1.97 % |
| 60d % | 4.56 % |
| 1y % | 310.52 % |
| Official Links | Website |
| Socials | X |
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