Bill Morgan, a lawyer who is qualified to practice law in both the United Kingdom (UK) and Australia, is suggesting that the price of the digital token XRP would gain massively if the ongoing lawsuit filed by the United States Securities and Exchange Commission (SEC) ends in favor of Ripple.
Shows what could happen to XRP if the case has a good outcome https://t.co/uA63GMgxW4
— bill morgan (@Belisarius2020) January 31, 2023
Morgan’s comments came at a time in which the crypto community is expecting a summary judgment on the XRP lawsuit after both the SEC and Ripple asked for it.
Read Also: LBRY Calls On Coinbase to Relist XRP in Line with Latest Verdict: Details
Meanwhile, a similar case between the SEC and another fintech firm, blockchain-based sharing platform LBRY, has shared insights as to what could be expected in the Ripple-SEC case.
The SEC sued LBRY in March 2021 over the platform’s sale of its LBC tokens without registering with the regulator. Although the LBRY team didn’t offer the tokens through an initial coin offering (ICO), they kept some tokens for themselves before releasing them on secondary exchanges to fund operations.
Read Also: How LBRY’s Recent Win Against the SEC is Reviving Hope in the XRP Community
The summary judgment of that legal case saw a judge argue that LBC tokens incentivized the project’s team to keep building on the network, which suggested to investors it would be a profitable investment on the secondary market.
Late last month, during an appeal hearing in New Hampshire, a judge clarified that LBC tokens are only considered securities at the time of direct sale. The clarification resulted in a massive increase in the price of $LBC, which in turn enhanced the expectation of a similar outcome for XRP.
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