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Ripple’s Case: Lawyer Predicts Total Victory If Judge Agrees To Jury Decision

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In recent months, the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has garnered significant attention in cryptocurrency. The SEC alleges that the company distributed 14.6 billion units of XRP without registering it as a security and has sued the company and its executives for this alleged violation.

However, the case is far from straightforward. Many legal arguments are being made on both sides, and it is difficult to determine who will come out on top. Pro-XRP lawyer John Deaton has pointed out that the parties have not yet filed their 56.1 statements and counter statements, which will contain indisputable facts and evidence supporting their positions for summary judgment. This means that making any definitive conclusions about the case is premature.

Ripple Defense Could Secure Total Victory In Court

According to Deaton, One of the key arguments being made by Ripple is that XRP is not a security because there is no underlying contract between Ripple and XRP holders. However, Ripple has admitted in its summary judgment brief that there were XRP sales made by Ripple that did have a written contract as part of the sale.

Remember, we haven’t seen the the 56.1 statements and counter statements filed by the parties. The 56.1 statements and counter statements is where each party cites indisputable facts and evidence supporting their position for summary judgement. https://t.co/KCje445PHA

— John E Deaton (@JohnEDeaton1) May 18, 2023

Ripple argues that these contracts cannot be deemed investment contracts because they did not obligate the company to take post-sale actions for the benefit of XRP holders and did not allow XRP holders to demand anything from Ripple, share in Ripple profits, or grant any equity of any kind.

Furthermore, Deaton stated that while Ripple’s argument may be persuasive, it is unc

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Author: Ronaldo Marquez

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