I Hope Ripple Wins The Lawsuit Against SEC: Says Crypto Analyst Miles Deutscher
The post I Hope Ripple Wins The Lawsuit Against SEC: Says Crypto Analyst Miles Deutscher appeared first on Coinpedia Fintech News
The lawsuit between Ripple and the U.S Securities and Exchange Commission (SEC), which is expected to be settled in early 2023, was discussed on Twitter by cryptocurrency experts Miles Deutscher and David Gokhshtein. Deutscher feels it is important to support Ripple in this legal dispute, even if one does not like XRP.
I’m not a huge $XRP fan, but for the sake of our industry I really hope they win.
If they don’t, there will likely be massive ramifications.
Anyone hoping they lose is against crypto.
— Miles Deutscher (@milesdeutscher) December 9, 2022
Crypto influencer David Gokhshtein, also recently tweeted and conveyed a similar idea.
He wrote, “You don’t have to be a fan of Ripple or $XRP, but you should be rooting for them to win their case against the SEC. It would bring clarity to the #crypto industry. It would also keep innovation in the U.S.”
Ripple vs SEC Nears the end
There have been no developments in the ongoing SEC v. Ripple lawsuit, therefore XRP is now in the hands of the larger cryptocurrency market. The SEC v. Ripple case will continue to be a key factor in XRP price changes. Investor anxiety has crept in, holding back XRP from a rebound to $0.40 as investors wait for the Court’s decision on the Summary Judgment Reply papers.
Amicus Curiae counsel John Deaton noted in response to the well-known William Hinman speech,
“Judge Netburn specifically held that the way the SEC treated and evaluated BTC and ETH was relevant when considering the objective standard to be applied to the recklessness issue. Clayton and the SEC made a big mistake.”
XRP has had a contentious road on the market, failing to break out at least twice. Yet XRP has not experienced a steep decline. XRP price has been increasing since Nov. 10 despite the market slump.
Filed under: Bitcoin - @ December 10, 2022 6:40 am