SEC vs XRP: Why It's Vital To See The Ripple Lawsuit Closely Now?

Due to Russia being attacked by various sanctions and getting kicked out from SWIFT, several crypto enthusiasts are debating about XRP’s place in banking.
Brad Garlinghouse, CEO of Ripple, stated during an interview with a news agency, that the court may soon unveil some important decisions regarding the case.
XRP vs SEC initiated when the Securities and Exchange Commission made allegations that XRP is not a security but trading like it is, and is not registered in SEC.

Verdict On The Way

With Russia facing sanctions and being shut off from the SWIFT network, many crypto observers have been discussing XRP’s role in the financial industry, as well as the judicial wrangling between the SEC and Ripple.

Ripple CEO Brad Garlinghouse discussed the development of the SEC versus Ripple Labs lawsuit during an interview with a news agency. The XRP community was keen to know if things were going up for the contentious cryptocurrency after a frenetic few weeks of leaked memoranda and the Russian-Ukrainian war.

Garlinghouse, for one, voiced the belief that clarification was on the way.

The matter is still moving along, and organisation is anticipating some court rulings, sooner instead of later, as it pertains to a couple of court decisions, but look, it’s moving slowly.

SEC Chair Gary Gensler’s contrast of the cryptocurrency business to the “Wild West” was also criticised by the executive.

The conversation would not be complete without a discussion of the Russia-Ukraine conflict and the issue of sanctions. Garlinghouse argued that some crypto detractors had sufficient understanding of how the technology operated and were anticipating a blanket ban in sanctioned nations.

He further claimed that Ripple was a “responsible actor” who collaborated with the US authorities.

ALSO READ – Russian war has a massive impact on the crypto market

Spiking Morale

Garlinghouse isn’t the only one who thinks the Ripple vs SEC timetable will go well. John Deaton, a crypto lawyer who represents tens of thousands of XRP investors in the litigation, agreed with the Ripple CEO’s assessment of a quick resolution.

Furthermore, he voiced his belief that previously revealed data connected to the Hinman emails will aid in a settlement or perhaps a positive decision for XRP investors.

One more thing: We know Clayton was the ONLY Commissioner to review the speech before it was given and who provided input. Hinman did not email the speech to Roisman or @HesterPeirce. Why not? B/c he likely knew that Roisman and Hester might speak up about #XRP or other tokens.
— John E Deaton (@JohnEDeaton1) March 5, 2022

Deaton added that he previously stated that a decision will be made either today or Monday. It will be a shocker if it isn’t finalized by the end of next week if it isn’t Monday.

A lot of pessimism can be observed regarding XRP vs SEC case. One of the example it the large accumulation of XRP by Ethereum whale, as revealed by Whale Alert on Twitter.

This shows that they are optimistic about court ruling the case in favor of XRP, which may give a rise in the price of crypto asset. We just have to wait and watch until the decision comes.

As this article was being written, Ripple’s native cryptocurrency XRP was trading at a market value of $0.7361, bullish by 0.39% in past 24 hours.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing