Ripple

Will The Upcoming Ruling By The Judicature Put An End To Ripple’s Torments? XRP To $2 On The Horizon?

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Feb 21, 2022

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Highlights

    The XRP army suits up as the deadline for the completion of expert discovery. Following the unsealing of two legal memos.

    Attorney John E Deaton cites the importance of Judge Netburn’s decision on the motion for reconsideration.

The cryptoverse is now optimistic with Ripple’s win, in the business’s infamous lawsuit. Which has collared the price projection of XRP for over a year. While the industry and its numerous digital assets have been caged to a narrow bandwidth since the last quarter. XRP price has been in a narrow channel for over a year. However, the light at the end of the tunnel now seems to be evident.

In succession, the optimism amongst folks from the crypto town is fueled by the order of unsealing documents. This also includes the two legal memos from 2012, which have turned crucial in Ripple’s win. Wherefore, the XRP army is now suited up for the deadline of the completion of expert discovery. In the interim, Attorney Deaton cites the importance of Judge Netburn’s decision on the motion for reconsideration.

Is Ripple’s Win Now Limited To This Order From The Court?

  Ripple and XRP have taken public platforms and crypto savvies by storm since the order to unseal the legal memorandums. The legal brawl between Ripple and the U.S SEC is heating up, each passing day. The unsealed legal memos from 2012, citing the precautionary measures taken by the defendants have escorted ammunition to Ripple’s stance.

Attorney John E Deaton in a public post cites the importance of Judge Netburn’s decision on the motion for reconsideration. The advocate specifies that the reconsideration motion revolves around the “63 emails”. Which holds drafts and comments in connection with Hinman’s Ethereum status quo speech. Which does not mention XRP, despite the final version discussing Bitcoin and Ethereum.

Successively, it is arguably right to assume that the 63 emails could hold discussions around XRP. Which at that time was the undisputed rival of Ethereum. If Judge Netburn orders to turn over the emails, the drafts and comments if produced will reinforce Ripple’s stance. The attorney mentions that the judge can pierce the privilege and order the turnover of documents, even if covered under DPP.

If the emails are ruled to be privileged but ordered to turnover, it would help XRP debunk the allegations made by the SEC. Moreover, if the judge believes the evidence to be exculpatory, and if Ripple is left with no ways to produce evidence. The Judge would pierce the privilege.

Summing up, things are finally inclining in favor of Ripple against the unruly act of the SEC. Hopefully, things settle to a greater extent following the ruling in the pipeline. That said, the optimism amongst the community has been finding no bounds. Which has been further fueled by the views of ex-CFTC Chairman Charles Giancarlo. Who in his published book had briefed why XRP was not a security.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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