Ripple Vs. SEC Lawsuit: Here’s What To Expect Next?

The post Ripple Vs. SEC Lawsuit: Here’s What To Expect Next? appeared first on Coinpedia Fintech News

Ripple’s latest court filing, submitted on January 19th, challenged the SEC’s motion to compel. As the Ripple vs SEC lawsuit continues to capture the crypto community’s attention, many crypto analysts have contributed their insights and predictions to the legal battle. 

Ashley Prosper’s Speculation

Renowned crypto personality and pro-XRP community member Ashley Prosper, recently shared his predictions on social media platform X, regarding the SEC’s motion to compel. 

In his post, he expressed confidence that Judge Netburn would likely deny the SEC’s motion, suggesting that the best outcome for the SEC might be a hearing before a potential denial. 

It is to be noted that Prosper has time and again gained popularity for his accurate predictions related to the SEC v. Ripple case. Prosper, along with numerous XRP enthusiasts, has alleged that private entities, including JP Morgan, played a role in influencing the SEC’s decision to sue Ripple. 

Insights from Bill Morgan

Adding to the narrative, Bill Morgan, a legal professional and crypto enthusiast, responded to James K. Filan’s tweet, highlighting Ripple’s stance on the SEC’s motion. 

According to Morgan, Ripple has rightfully alleged that the SEC has not shown proper cause for investigating and making discovery related to post-complaint sales. He pointed out that such sales were already part of the discovery process in 2021, and the SEC was aware of Ripple’s post-complaint sales then. 

As predicted by Bill Morgan, the SEC’s request for discovery raises the question of whether post-compliant sales align with the Howey test. Since nearly all buyers are On-Demand Liquidity (ODL) customers, Morgan emphasized a key aspect, noting that most of these purchasers are On-Demand Liquidity (ODL) customers. This raises a crucial question: How do ODL customers anticipate profits from utilizing XRP?

In Conclusion … 

As the Ripple vs SEC lawsuit continues, insights from figures like Ashley Prosper and Bill Morgan offer a unique perspective on the potential outcomes and intricacies surrounding the ongoing legal battle. The community continues to closely watch for developments that could shape the future of Ripple and the broader cryptocurrency landscape.