The Ripple Labs class action lawsuit has taken a major turn. The U.S. District Court just issued pivotal rulings, setting the stage for a high-stakes jury trial set for January! Recent attempts at settlement failed, meaning both sides will face off with significant implications for XRP's future. Here’s what went down:
📌 Wins for Plaintiffs: The court upheld expert testimonies from Jeremy Clark and Saifedean Ammous, both arguing Ripple’s strong influence over XRP’s ecosystem. Clark claims that XRP distribution has primarily benefited Ripple, an argument that Judge Hamilton allowed despite Ripple's objections.
📌 Ripple’s Defense Setback: Ripple’s attempt to include Alan Schwartz’s testimony on XRP’s status as an investment contract was denied, removing a key part of their defense. However, the exclusion of plaintiff expert Joel Seligman was a small win for Ripple, adding to the legal back-and-forth.
📌 Jury Trial Set – Expert Testimonies in Focus: The trial in January will see expert witnesses from both sides, examining Ripple’s role in XRP’s market value and whether Ripple’s actions influence its price.
And there’s more! Ripple’s separate battle with the SEC continues in the appeals phase, intensifying the legal pressure. January's trial could have lasting effects on the future of XRP and the crypto landscape.
