The Ripple Labs class action lawsuit just took a major turn as the U.S. District Court delivered game-changing rulings, setting the stage for a high-stakes jury trial this January! Recent settlement talks failed, pushing both sides to face off in court with big implications for XRP's future. Here's what happened:
📌 Key Wins for Plaintiffs: The court upheld the expert testimonies of Jeremy Clark and Saifedean Ammous, both asserting Ripple’s significant role in XRP’s ecosystem. Clark claims XRP distribution has largely benefited Ripple, an argument that Judge Hamilton allowed despite Ripple's objections.
📌 Ripple’s Defense Hit: Ripple’s bid to present Alan Schwartz’s testimony on XRP's status as an investment contract was denied, removing a key defense strategy. Meanwhile, the exclusion of plaintiff expert Joel Seligman was a minor win for Ripple, keeping the legal playing field dynamic.
📌 Trial Date Set – Conflicting Expert Views Await Jury: In January, the jury will hear opposing takes from both Ripple and plaintiffs on Ripple's influence over XRP's market value, diving into whether Ripple’s actions impact XRP's price.
And it’s not over! Ripple’s separate showdown with the SEC is still on, heading into the appeals phase. The legal storm around Ripple and XRP is intensifying, and January’s trial could shape the future of this digital asset.
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