A top expert has shared a positive outlook as the XRP community eagerly awaits the final verdict from Judge Analisa Torres in the longstanding SEC v. Ripple lawsuit.
Per the recent tweet, Ashley Prosper submitted that the presiding judge over the Ripple-SEC case would likely rule against classifying XRP secondary market sales as securities. In other words, he submitted that Judge Torres would not deem XRP tokens sold on exchanges as securities.
To support his stance, he cited that the U.S. Securities Commission had no interaction with XRP holders to decipher their actual motive behind purchasing XRP. More so, Prosper added that the absence of investment contracts between XRP holders and Ripple further counters SEC’s claims that XRP holders depended on Ripple’s efforts for profits.
Highlighting the significance of Ripple’s submission of over 3,000 affidavits from XRP holders, Prosper suggested that these testimonials could further sway Judge Torres’ judgment in favor of the sixth-largest crypto by market cap.
Furthermore, he pointed to the numerous amici briefs filed by various third-parties entities to support Ripple, with some magnifying real-world use cases of XRP beyond direct investment purposes.
#XRP #XRPCommunity
The way I see it…SEC expert: When XRP Holders bought XRP, they were relying on Ripples' efforts to increase the XRP price.
Judge Torres: You can't tell me what XRP holders were thinking when you didn't speak to any of them. Plus, you admit that if you had,…
— Ashley PROSPER (@AshleyPROSPER1) July 12, 2023
XRP Community Contemplates Regulatory Changes
The recent ruling in the SEC v. LBRY lawsuit has become a catalyst for discussions within the XRP community. While some speculate that Judge Torres might refrain from commenting on XRP’s security status, drawing parallels to the LBRY case, others like pro-XRP lawyer Fred Rispoli believe that the judge will address the issue given that Ripple has invoked XRP’s security status as their second defense.
As the courtroom drama unfolds, XRP community members are optimistic that the outcome of this landmark ruling holds the power to redefine the regulatory landscape not just for XRP but for the broader cryptocurrency industry as well.
Amidst the speculations and predictions, stakeholders, investors, and XRP enthusiasts alike eagerly await Judge Torres’ verdict, which will undoubtedly shape the future trajectory of XRP and its market dynamics. The conclusion of the SEC v. Ripple lawsuit is going to mark a significant milestone in the ongoing journey toward regulatory clarity and legal precedent within the crypto space.
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