The XRP community is excited about a recent development that could have a big impact on the cryptocurrency’s future. The ECGI, a reputable European organization dedicated to corporate governance, released a research paper recognizing XRP as a utility token rather than a security amid the legal dispute between Ripple Labs and the SEC. This distinction is crucial in the debate over whether XRP should be classified as a security. The paper “Corporate Governance Meets Data and Technology” by ECGI delves into the changing world of token offerings in the blockchain industry. Written by Wei Jiang and Tao Li, the study looks at different ways companies raise funds, such as ICOs and STOs. A key aspect of the paper is the uncertainty around how tokens are classified, especially in relation to securities laws, with the Ripple lawsuit being discussed as a key illustration. The SEC claims that XRP is a security, suggesting that Ripple’s sales of XRP broke US securities regulations. However, the ECGI paper brings attention to an important point that is often ignored in the media: the court’s decision in July 2023. The court found that XRP, when sold on exchanges to the public, does not qualify as a security. This information presents an alternative perspective to what the SEC has stated and serves as a practical example for regulators deciding how to categorize cryptocurrencies. Looking beyond the legal dispute, there are broader implications for XRP. Being acknowledged by a renowned organization such as ECGI has effects that extend beyond the current implications of the SEC lawsuit. The document legitimizes the idea that XRP serves as a utility token and acts as a means of exchange in the RippleNet payment network, making cross-border transactions quicker and more cost-effective.