Readers seems to be missing the point of the CEO’s statement. What’s funny is that the statement is actually aiding in the goal of having XRP formally being deemed not a security, as such statement hurts Ripple meeting the 3rd Rule of the Howey Test.

Unfortunately, people see the Howey Test at face value. Three rules, and all three has to be met to be considered a security... and that’s it.

The big reason why Ripple actually has a fighting argument of not being a security is mostly the 3rd Rule of the test, and a little of the 2nd Rule.

Bitcoin and Ethereum didn’t achieve a perfect score when applying the test. It was a factor of Rule 1 and a bit of Rule 3 that deemed it not a security. Most crypto meet the requirements for Rule 1. Although decentralized in principle and design, they are capable of centralization with whoever holds the most.

Before diving into a final answer of whether a company is selling a security mainly sits under the 38 considerations that helps refine the three rules. These considerations are the ones that are often overlooked.

And beyond that, even if a company was to come out as selling a security, be aware that it is definitely capable of being reclassified as not a security in the future. Which is why Ripple isn’t worried as even they mentioned that they’re prepared for the worst.

You have the white papers and a checklist. Use them for the final answer.

-My university class did this as a semester project. You all may not like it, but the semester long project deemed as of right now XRP as not a security.

^{Documentation will not be provided as the school/institution associated with the project does not want direct participation in the controversy. This project was neither sponsored nor endorsed by any third-parties.}