![Ripple [XRP] is 'free to dump on you,' Pierre Rochard claims](https://ambcrypto.com/wp-content/uploads/2025/03/Ripple-Critic-Says-XRP-Is-Not-a-Security.webp)
- Pierre Rochard argues that XRP isn’t a security, amidst Trump’s crypto reserve plan with XRP at its core.
- XRP ETF approval odds rise to 78% as regulatory clarity boosts market confidence.
Amid growing discussions on cryptocurrency regulation, the U.S. government under President Donald Trump has unveiled plans to establish a national crypto reserve, with Ripple [XRP] expected to play a significant role.
Pierre Rochard on XRP’s security status
As expected, this move reignited debates over XRP’s regulatory status.
Pierre Rochard, Vice President of Research at Bitcoin [BTC] mining giant Riot Platforms, asserting that XRP is not a security—challenging the long-standing criticisms from its detractors.
Taking to X (formerly Twitter), Rochard noted,
“XRP isn’t a security because Ripple doesn’t actually owe you “utility” or anything else.”
He further added,
“They are free to dump on you and you have no right to do anything about it other than join them in dumping XRP. That’s why XRP is not a security.”
Rochard rejects XRP despite Trump’s plan
In his argument, Rochard, a well-known critic of Ripple, has reinforced his stance that XRP does not meet the criteria of security, arguing that Ripple does not owe investors any form of utility or obligation.
He further emphasized that numerous financial products, despite being perceived as “worthless” or even “harmful,” do not fall under the definition of securities.
Rochard’s comments come amid ongoing regulatory scrutiny of XRP, which saw a major turning point in 2023 when Judge Analisa Torres ruled that secondary sales of the token did not constitute securities transactions.
This decision dealt a significant blow to the U.S. Securities and Exchange Commission (SEC) and strengthened Ripple’s position in its legal battle.
However, despite the SEC dropping cases against OpenSea, MetaMask, and others, Ripple’s legal battle remains unresolved.
Therefore, as the debate over XRP’s classification continues, Rochard’s perspective adds another dimension to the ongoing discourse surrounding crypto regulations.
XRP’s market trend
Amid these discussions, XRP’s market performance has remained strong, with the token trading at $2.44 after a 4.08% increase in the past 24 hours as per CoinMarketCap.
Additionally, optimism surrounding a potential XRP ETF approval in 2025 continues to rise, as reflected in Polymarket data, which now places the likelihood at 78%.
Therefore, as regulatory shifts and institutional interest shape the future of digital assets, it remains to be seen whether Rochard’s argument will prevail.
