News View Non-AMP

Will Ripple’s Possession of XRP Tokens Create a Problem in the Ongoing Case?

Published by
Elena R

With the issuing of a Summary Judgment, the long Ripple vs SEC case which had various twists and turns is moving toward the final phase. According to reports, defense lawyers for Ripple and the US SEC have begun submitting sealed responses to plaintiffs’ objections to their requests for summary judgment. However, the fact that Ripple benefited from owning a significant quantity of XRP will continue to be a hot topic in the lawsuit.

According to reports, less than 50 billion XRP coins are in Ripple’s possession. It was also mentioned that the company only runs four of the 130 validator nodes on the XRP Ledger (XRPL). 

John Deaton, an Amicus Curiae and the attorney for the XRP holders in the matter, made it clear that Ripple is prepared to defend itself in court. According to him, the defendants are aware that the judge would probably bring up this issue. Ripple will bring up the De Beers Diamond Company to their defense.They said that the diamond industry owns 30% of the market for diamonds.

Will LBRY’s negative ruling have an impact on Ripple?

Attorney James K. Filan’s most recent reports indicate that the court has approved LBRY’s request for a briefing schedule regarding the commission’s requested remedies. In the document submitted, LBRY claimed that during a status conference on Nov. 21, it gave the SEC a settlement proposal on Nov. 25. 

On Nov. 29, following the submission of the settlement proposal, the parties met to discuss the terms, but they were unable to come to an agreement regarding the remedies requested by the regulator.

The SEC sued LBRY at the beginning of 2021 over the illegal sale of LBC tokens. Since then, the case has received a lot of attention since it raises the frequently disputed question of whether cryptocurrencies are securities or not.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Recent Posts

Anthony Pompliano’s ProCap BTC Acquires 3,724 Bitcoin Following a Strategic Merger With Columbus Circle

Anthony Pompliano’s ProCap BTC has acquired 3,724 Bitcoin for about $387 million to strengthen its…

June 25, 2025

Chainlink Partners With Mastercard to Boost Crypto Adoption: What’s Next for LINK Price?

Chainlink (LINK), an established decentralized oracle network, has announced a strategic partnership with Mastercard Inc.…

June 25, 2025

XRP Price Jumps 12%, Analyst Dark Defender Flags Danger Zones

The crypto market’s been volatile lately and XRP is no exception. Over the weekend, as…

June 24, 2025

What XRP Users Are Talking About This Week: Latest Rumors, Predictions & Debates

The XRP community is as fiery as ever, with price debates, predictions, and arguments lighting…

June 24, 2025

Nasdaq-Listed Nano Labs Plans to Buy $1B in BNB — Aiming for 10% Supply Takeover!

China-based Web3 firm Nano Labs is making a daring move by targeting Binance Coin (BNB).…

June 24, 2025

Bitcoin Price Holds Strong at $105K: Short Squeeze Ahead?

Bitcoin’s price held $105k in support on Tuesday, with reduced geopolitical tensions in the Middle…

June 24, 2025