The ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) has garnered significant attention and debates within the cryptocurrency community. As a US attorney representing thousands of Ripple investors in this lawsuit, I strongly believe that the SEC’s chances of prevailing are slim to none. In fact, their desperate and prolonged tactics only delay the inevitable loss they are facing. In this article, we will delve into the potential strategies the SEC may employ and the implications it may have on Ripple and its native token XRP.
The Dumbest Argument
One of the most perplexing claims made by the SEC is their desire for faster adjudication than the blockchain enterprise itself. As an attorney, I can confidently say that this is the “dumbest argument” I have come across in my career. The SEC’s insistence on a speedy resolution is merely an attempt to avoid the merits of the case and the potential flaws in their arguments against Ripple.
In mid-July, Ripple achieved a significant milestone in the legal battle when a US Judge ruled that the company’s XRP sales did not constitute an offer of investment contracts. This decision provided a much-needed boost to XRP’s price, surging it by over 70%. It signaled a partial win for Ripple and set the stage for a potential decisive victory.
Despite the setback, the SEC refused to back down and formally appealed the court’s ruling in early September. However, I am confident that these appeals will not be enough for the regulator to secure a victory. Judge Torres, the presiding judge, has consistently shown a bias towards Ripple and is likely to rule in favor of the company once again. Even if early appeals are granted, the process itself will further prolong the legal proceedings, potentially taking another year or two for the US Court of Appeals for the 2nd Circuit to make a final decision.
The SEC’s continuous appeals and delay tactics are signs of a regulator desperate to salvage a case they are losing. By engaging in the appeal process and incorporating separate arguments from ongoing cases, the SEC aims to delay litigation and create further obstacles for Ripple. However, these tactics will ultimately be in vain as they will have no effect on the final resolution. The regulator’s actions only highlight their desperation and lack of a solid legal footing.
The outcome of this protracted legal battle will undoubtedly have a significant impact on the price of XRP. Many experts and analysts, including the crypto analyst with the Twitter handle KALEO, believe that the SEC’s appeal will prove futile, leading to a price rally for Ripple’s native token. The resolution of this case will remove the cloud of uncertainty surrounding XRP and potentially open doors for its wider adoption and integration within the financial industry.
As a representative of Ripple investors, I am confident in the eventual victory of Ripple over the SEC. The regulator’s desperate tactics and prolonged appeals only serve to delay the inevitable loss they are facing. The recent partial win by Ripple and the biased stance of Judge Torres suggest a favorable outcome for the blockchain enterprise. While the impact on XRP’s price remains uncertain, it is crucial to closely monitor the developments in this legal battle as they will shape the future of Ripple and the cryptocurrency industry as a whole.