The latest update from an XRP lawyer has shed light on the highly anticipated ruling by Judge Torres regarding the SEC’s hefty $2 billion fine against Ripple. Brace yourselves, because this new development could spell a major win for XRP and ignite a powerful bullish trend.
Pro XRP Lawyers Took a Jab at SEC’s Weak Arguments
Meet James Murphy, the legal mastermind behind the alias MetaLawMan and a fierce advocate for XRP. He’s making waves in the crypto world as he boldly predicts that Judge Torres will shoot down the SEC’s massive $2 billion fine against Ripple.
This could be a game-changing victory for XRP, signaling a bullish market ahead. But Murphy isn’t just sitting back and celebrating yet – he’s raising some serious doubts about the SEC’s claim that institutional investors were harmed and calling out the validity of their demand for disgorgement.
The SEC’s latest allegations have sparked controversy, with claims that institutional investors were duped into paying higher prices for XRP due to an inflated value. But one skeptic, Murphy, challenges the validity of these accusations, arguing that the interpretation of the facts may be flawed. Could this be a case of misinterpretation, as seen in the infamous SEC v. Govil ruling?”
Legal experts clash over the validity of the SEC v iFresh case as a warning for financial harm. MetaLawMan casts doubt on its credibility, citing the judge’s decision to label it as “NOT FOR ELECTRONIC OR PRINT PUBLICATION,” as a sign of its limited impact.
However, Murphy argues that Judge Torres may reject the SEC’s motion due to weak evidence. In a fiery retort, lawyer Jeremy Hogan stresses the need for caution when citing such cases, urging the importance of seeking approval from the appellate court.
SEC’s Stance on disgorgement
The SEC has raised concerns about Ripple’s alleged breach of securities laws, specifically regarding the sale of unregistered XRP tokens. In order to prevent any further violations, they have deemed disgorgement necessary. This comes as Ripple announces their plans to distribute additional unregistered crypto assets through their new corporate structure.
Exclusive: Ethereum Price Breakout to Trigger 100x Altseason in Q3 2024
Latest Update in Ripple vs SEC & Price Impact
Renowned influencer CryptoGeek has just hinted at a possible end to the XRP lawsuit, with a potential Ripple settlement on the horizon. The judge is expected to release the final brief by May 20th! But that’s not all, the XRP Ledger (XRPL) is making waves in the decentralized finance (DeFi) world, with a whopping $1 trillion trading volume predicted. The CTF token, the only XRP Ledger DeFi token in the top 10, is leading the pack.
While XRP may dominate the market, there is a new player on the rise – the CTF token. Despite its small share, this underdog has the potential to make a grand entrance, with experts predicting a jaw-dropping leap from $0.87 to a staggering $1937.
Amidst a sea of legal ambiguity, the value of XRP has taken a slight plunge of over 2% in the past day, settling at a mere $0.52. In order to bounce back from its recent setbacks, XRP must conquer significant barriers, including the crucial thresholds of $0.5582 and $0.5916, before reaching its ultimate goal of $0.60.