XRP Lawsuit: Moving Case To Supreme Court Could Be Beneficial For Ripple

February 22, 2023 11:31 am Comments

The current lawsuit between the SEC and Ripple continues to drag on for roughly two years which is making many speculators anxious on the court’s final decision.

As of right now, both parties are still waiting on a ruling from Judge Analisa Torres from the United States Southern District Court of New York.

Many are expecting that the case will finally reach a settlement which would be an extremely bullish case for XRP and Ripple.

Additionally, Ripple’s chief legal officer has recently revealed some comments about how the case could turn out including the fact that it might be possible for the case to be escalated to the Supreme Court.

Whether or not that will be beneficial for Ripple can be analyzed, but it seems that it is another scenario that would benefit the company.

Bitcoinist reports:

Ripple’s Stuart Alderoty stated that the SEC has lost a total of four of the five cases that made it to the Supreme Court:

The SEC has lost 4 of its last 5 cases in the Supreme Court, thanks to the few that had the courage and resources to fight back against the SEC’s bullying and clinging to stretch legal positions that were not faithful to the law.

The statement is causing a stir in the XRP community in that the reference for the statement is not entirely clear.

Does Alderoty imply that Ripple is willing to go to the Supreme Court in case of an unfavorable outcome of the court case? Or is Alderoty just pointing out that the SEC often has a poor case record against strong opponents who oppose the agency’s overreach?

It is not clear if Alderoty’s comments indicates that he believes the case moving to the Supreme Court is likely or if he was just mentioning it as another favorable possibility for Ripple.

Regardless, it is clear that the data shows that the SEC often loses its cases when it gets brought up to the Supreme Court.

Therefore, many investors and speculators believe that it will only be a matter of time before Ripple wins the lawsuit which will have enormous implications on how the SEC regulates all future digital assets.

After all, it seems that the Supreme Court is the only government entity that could correct the SEC’s authority and role in crypto regulation besides Congress.

The Supreme Court has done such things with other cases in the past such as it correcting the role of the Environment Protection Agency previously.

Crypto-News-Flash concludes:

John Deaton mentioned that the West Virginia EPA case is one such case that shows the SEC is crossing its bounds. He goes on to put his full weight behind Ripple, commending it for its well-written summary judgment brief.

I have no doubt Ripple will win and the current Supreme Court will shut down the @SECGov’s gross overreach. The West Virginia 🆚 EPA case is all you need to read to agree with me. @Ripple’s summary judgment brief is already an extremely well written appellate brief. https://t.co/o3g9zML9S2

— John E Deaton (@JohnEDeaton1) February 20, 2023

“We are lucky we got Judge Netburn and Judge Torres and if Judge Torres denies the SEC’s motion like I expect her to and says it goes to a jury, that’s a win. You confuse my motion with Ripple’s. I filed in opposition of the SEC not in support of Ripple.” Deaton added.

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