Jason Calacanis has raised concerns over XRP’s classification, describing it as a centrally controlled security. He argues that if allowed to trade freely like Bitcoin, it could lead to market chaos and instability.

John Deaton disputes Calacanis’ view, emphasizing that XRP meets the non-security criteria under the Howey Test. This comes after Ripple’s court win stating XRP isn’t a security in secondary markets.

The SEC’s appeal against Ripple’s court ruling introduces further uncertainty for XRP’s classification. Speculations regarding XRP’s potential inclusion in a U.S. National crypto reserve arise amidst ongoing regulatory discussions.