The market buzzes with anticipation as the Securities and Exchange Commission (SEC) and Ripple reveal sealed remedial reply briefs and exhibits in their ongoing legal battle. Today, the curtain lifts on redacted versions of these elusive documents, shedding light on the strategic moves between the two giants.
What next? Letās find out.
Insights from Bill Morgan: Rippleās Fate in Question
In a recent X post, pro-XRP lawyer Bill MorganĀ notedĀ the potential implications of a permanent ban on Rippleās XRP sales. He believes the regulatorās response is more crucial than the penalty.Ā
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A major point of disagreement is the SECās assertion of financial harm to institutional XRP buyers due to Rippleās actions. Morgan carefully examines this claim, raising questions about potential penalties and avenues for appeal.
Permanent Ban Possible?
Digging deeper, Morgan examines the SECās push for a permanent prohibition, particularly targeting Rippleās On-Demand Liquidity (ODL) sales. He outlines the SECās stance on Rippleās business model and potential risks. Additionally, he looks at Rippleās efforts to challenge the injunction and the SECās rebuttals.
Furthermore, he disagrees with Judge Torresā ruling on ODL sales being classified as investment contracts. At the same time, he also lashes out at Rippleās argument that they lacked clarity in differentiating these sales from other institutional and programmatic sales during the summary judgment phase.
Ripple now faces the challenge of addressing this issue on appeal, as he expects the court will likely grant a permanent injunction, extending its scope to cover ODL sales.
Jeremy Hoganās Take
Attorney Jeremy HoganĀ announcedĀ the completion of the Ripple vs. SEC briefs, expressing his view that the SECās final response lacked impact. Hogan noted that the SEC did not address ODL sales, merely acknowledged Rippleās attempt to re-litigate the issue. Furthermore, he mentioned that the SEC did not introduce any new information regarding damages. With the briefs finalized, the anticipation now shifts to the judgeās decision.
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XRP Price: Any Hope Left?
The SEC lawsuit has dampenedĀ XRPās price, but thereās hope for a turnaround. Although itās trading around $0.53, positive news from the Ripple vs. SEC case could push it past $0.55. Derivatives traders are also showing interest, with XRP futures OI increasing by nearly 4% in 24 hours, indicating a bullish trend in the futures market.
Weāre all in this together! What are your predictions for the Ripple vs. SEC case?
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