On January 29, Ripple issued a preliminary legal response against the SEC, which took legal action against it on December 21, 2020. Ripple official Stuart Alderoty announced the current development in Ripple's latest blog post and summarized the response to the followers. Therefore, he reminded that the SEC was not in a position to deal with this. According to the response, Ripple has never had an ICO and owning XRP does not mean that its owners are entitled to receive any part of Ripple's income and profits.