Ripple v. SEC: Latest Lawsuit Updates Point to Potential Win for XRP

“The SEC’s motion is an improper takeover attempt simply because it is not satisfied with the court’s order on the preliminary briefing. No pretense that the high standard for reconsideration is met here.”

The SEC, which has been under extensive litigation for nearly a year, highlighted the same case (issue). This time, however, based on a new theory – “in a reversal, of course.” James. K Filan, a famous lawyer repeated this development on Twitter that shed light on this matter. To give Ripple’s answer some authority, Filan . said said“BAM”.

In fact, Plaintiff ignored the earlier filing that included the affidavit of former Corporation Finance Director William Hinman. It claimed that Hinman’s Speech expressed the speaker’s “personal views”. And then suddenly this story changed. Now the speech was a “culmination and reflection of a policy process within the Corporation Finance Department.”

Although, if this were the case, John Deathon, another celebrity in this lawsuit, argued the following,

Nevertheless, the motion (the SEC’s response) must be dismissed because “the SEC does not identify any controlling law or facts that the court has overlooked.”

In addition, the SEC’s turnaround, as discussed above, did not warrant a reconsideration.

to the point

Ripple’s response above has sparked quite a few reactions on Crypto Twitter. Jeremy Hogan, a closely related attorney, said the backlash did not disappoint. The tweet read,

Another follower on Twitter claimed

“They don’t care how long it takes. They are paid with tax money, and the corrupt actors no longer work there. This process is a good exercise and a great learning experience for those young SEC lawyers.”

Notably, the #6 largest token, XRP, showed the same bullishness in the price action. XRP, at press time, traded at $0.7 up 11% in 24 hours. Curiously, this leads to a question: Does the XRP community feel a potential win here?

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