XRP Lawyer Predicts Judge Torres to Reject SEC’s $2 Billion Fine Against Ripple
In a recent development, an XRP lawyer has provided insights into why Judge Torres is likely to reject the SEC’s proposed $2 billion fine against Ripple. This revelation is highly positive for XRP and indicates a bullish trend that could benefit you as an investor. Let’s delve into the details.
XRP Lawyers Challenge SEC’s Weak Arguments
James Murphy, a well-known XRP advocate and lawyer, also known as MetaLawMan, has expressed doubts regarding the SEC’s stance on the $2 billion fine imposed on Ripple. Murphy believes that Judge Torres may rule against the SEC, which could be a major victory for XRP and potentially lead to a positive market trend. He specifically questions the SEC’s claim that institutional investors suffered financial losses and challenges the legitimacy of their request for disgorgement.
- Murphy raises concerns over the SEC’s argument that institutional investors faced financial harm due to paying a lower price for XRP, suggesting that this interpretation may be flawed.
- The SEC alleges that the inflated price of XRP resulted in pecuniary harm for investors who purchased the token at a discount. However, Murphy indicates that this assertion may be misinterpreted, pointing to a previous court ruling in SEC v. Govil.
SEC’s Argument on Disgorgement
The SEC has justified its request for disgorgement by citing Ripple’s alleged violations of securities laws, particularly related to the sale of unregistered XRP tokens. According to the SEC, an injunction is necessary to prevent future violations, as Ripple intends to distribute more unregistered digital assets under its revised corporate structure.
Recent Developments in Ripple vs. SEC and Potential Price Impact
Industry influencer CryptoGeek has suggested that the XRP lawsuit may be approaching a resolution, as there is a possibility of a settlement between Ripple and the SEC in the near future. The final brief in the case is expected to be released by May 20th. Additionally, the XRP Ledger (XRPL) is on track to accommodate a substantial trading volume of $1 trillion in the decentralized finance (DeFi) sector. The CTF token, a top-ten token on the XRP Ledger, could see a significant surge in value, potentially rising from $0.87 to $1937.
Price Movement and Outlook for XRP
Despite the legal uncertainties surrounding Ripple, the price of XRP has experienced a minor decrease of more than 2% in the past 24 hours, currently trading slightly above $0.52. To recover from recent losses and regain bullish momentum, XRP needs to surpass key resistance levels at $0.5582 and $0.5916 on its path towards reaching $0.60.
Hot Take: What Does This Mean for You?
As an investor in the crypto space, it’s crucial to stay informed about the ongoing developments in the Ripple vs. SEC case, as they can significantly impact the market dynamics and the value of XRP. Keep a close eye on the legal proceedings and any potential settlements, as they could lead to significant price movements and opportunities for profit in the near future.
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