Latest Updates, Trends & Expert Insights on the Ripple vs. SEC Lawsuit
Ripple has filed a strong objection against the SEC’s request for post-complaint sales information, which could potentially lead to a court hearing. Crypto personalities Ashley Prosper and Bill Morgan believe that Judge Netburn will likely deny the SEC’s motion. Morgan raises the question of whether Ripple’s On-Demand Liquidity customers, who use XRP, actually expect profits.
On January 19th, Ripple made another significant move with its latest court filing, boldly challenging the SEC’s motion to compel. As the Ripple vs SEC lawsuit continues to capture the attention of the crypto community, many analysts have contributed their insights and predictions to the legal battle.
If you want to keep up with all the updates in the crypto space, you can’t afford to miss what they have to say. Continue reading!
One of the spotlight figures is Ashley Prosper, a well-known crypto personality and a strong advocate for XRP. Recently, he shared his predictions on the SEC’s motion to compel on the social media platform X. With confidence, Prosper stated that Judge Netburn is likely to deny the SEC’s motion, suggesting a potential scenario of a hearing preceding any denial.
Prosper’s track record of accurately predicting the nuances of the SEC v. Ripple case adds credibility to his claims. Alongside a dedicated community of XRP enthusiasts, he suggests that private entities, including financial powerhouse JP Morgan, may have played a role in influencing the SEC’s decision to sue Ripple.
Bill Morgan, a legal professional and crypto enthusiast, also chimed in on the discussion. He responded to James K. Filan’s tweet, highlighting Ripple’s position on the SEC’s motion. Morgan affirmed Ripple’s contention that the SEC lacks proper cause for investigating post-complaint sales. He pointed out that these sales were already part of the discovery process in 2021, with the SEC fully aware of Ripple’s post-complaint sales during that period.
As Morgan predicted, the SEC’s pursuit of discovery raises a crucial question: Do post-compliant sales align with the Howey test? Drawing attention to the fact that most buyers are On-Demand Liquidity (ODL) customers, Morgan poses an important query: How do ODL customers anticipate profits from utilizing XRP?