Will Ripple (XRP) Win The Lawsuit Against SEC?
The lawsuit between Ripple (XRP) and the Securities and Exchange Commission(SEC) appears to be coming to an end with Ripple likely the party that will come out victorious. Judge Sarah Netburn has given Ripple an edge over SEC when he ruled in favor of Ripple's appeal to include three other documents from the SEC privilege log in the upcoming in-camera review.
Remember that the Securities and Exchange Commission (SEC) on December 22, 2020, filed a lawsuit against Ripple Lab Inc and two of its executives, Christian Larsen and Bradley Garlinghouse, alleging that they raised over $1.3 billion through an unregistered digital asset. Ripple was also alleged to have distributed billions of XRP in exchange for non-cash consideration, such as market-making services and labor. All these puts together proved that Ripple violated the registration provisions of the federal securities laws as it is expected that any issuer seeking public investment will register with the securities agency through which their financial condition will be assessed and made known to the public.
The lawsuit made Ripple Investors dump their XRP which crash the price of XRP below 1$ and saw XRP delisted in many exchanges. Ripple ever since then has been putting up a good fight against SEC and it can be seen by the length of time the lawsuit has taken. The Ripple and SEC lawsuit is the longest suit SEC has ever faced. This has made investors return to XRP investment with the hope that there will be a bull when Ripple wins the lawsuit. Some of the exchanges that have delisted XRP earlier have relisted it.
What are the documents Ripple demands to be reviewed and how will they help RIPPLE (XRP) win the Lawsuit against SEC?
Ripple was able to discover through SEC privilege log an email between SEC and a third party where SEC told them to assess a digital asset by using factors from William Hinman's speech; a speech made by Former SEC chairman William Hinman on June 14, 2018, where he confirmed that ethereum is not a security, however, SEC claims that it was a personal opinion rather than the commission policy.
SEC will be in a serious issue if details from the email and the log prove that William Hinman's 2018 speech is not a personal opinion but that of the commission. They are likely to pay heavy fines to Ripple because their actions have taken away institutional investors from Ripple lab Inc and have also prevented Ripple from carrying out other projects in their roadmap. Ripple lovers are very much prepared for the upcoming in-camera review as there is a belief that Ripple will win the lawsuit and this will take XRP to a new all-time high.
Whether Ripple will win the lawsuit or not, we have to wait for the upcoming in-camera review. You can throw some money into Ripple if you don't have the token, nevertheless, I am not a financial advisor, so ensure to do your research and follow your heart.
You can read more on Ripple guide from here
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Hey @joseph23, can you please read through this and edit the post to fix all the little errors.
Random spaces, mistyped links etc - Especially in the heading.
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