The cryptoverse is now bullish on Ripple’s victory in the company’s infamous lawsuit. What has marked the XRP price projection for more than a year. While the industry and its many digital assets have been caged in tight bandwidth since last quarter. XRP price has been in a tight channel for over a year. However, the light at the end of the tunnel now seems to be evident.
Next, optimism among the people of the crypto city is fueled by the order to open the documents. This also includes the two legal memorandums from 2012, which have become crucial in Ripple’s victory. Therefore, the XRP army is now prepared for the expert discovery completion deadline. Meanwhile, Attorney Deaton cites the importance of Judge Netburn’s decision on the motion for reconsideration.
Is Ripple’s profit now limited to this court order?
Ripple and XRP have taken public platforms and crypto experts by storm since the order to reveal the legal memorandums. The legal fight between Ripple and the US SEC is heating up with each passing day. Unsealed legal memorandums from 2012, citing injunctions taken by the defendants, have brought ammunition to Ripple’s stance.
Lawyer John E. Deaton in a public post cites the importance of Judge Netburn’s decision on the motion for reconsideration. The lawyer specifies that the motion for reconsideration revolves around the “63 emails.” Containing drafts and comments regarding Hinman’s Ethereum status quo speech. Which does not mention XRP, even though the final version talks about Bitcoin and Ethereum.
In turn, it could be said that it is correct to assume that the 63 emails could hold discussions about XRP. Which at that time was the undisputed rival of Ethereum. If Judge Netburn orders the emails to be turned over, the drafts and comments, if produced, will strengthen Ripple’s position. The lawyer mentions that the judge can pierce the privilege and order the delivery of documents, even if they are covered by DPP.
If the emails are found to be privileged but rotation is ordered, it would help XRP debunk the allegations made by the SEC. Also, if the judge believes the evidence is exculpatory, and if Ripple has no way to present evidence. The judge would pierce the privilege.
In short, things are finally tipping in Ripple’s favor against the SEC’s rogue act. Hopefully things will settle to a greater extent after the pending ruling. That said, the optimism among the community has found no limits. Which has been further fueled by the views of former CFTC Chairman Charles Giancarlo. Who in his published book of him had explained why XRP was not a security.
This post Will the next Judiciary ruling put an end to Ripple’s torments?
was published first on https://coinpedia.org/ripple/upcoming-ruling-by-the-judicature-put-an-end-to-ripples-torments/