- In the ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC), pro-XRP community lawyers have offered a pessimistic outlook for Ripple’s latest court motion.
- Attorney Jeremy Hogan, known for his vocal support of Ripple in the crypto community, expressed via X (formerly Twitter) that he anticipates a loss for Ripple in its recent legal maneuver.
- The discussion was sparked by an update from James K. Filan, a former defense lawyer, who reported on Ripple’s filing of a letter in further support of its April 22, 2024 ,motion.
Pro-XRP lawyers predict a loss for Ripple in its recent legal maneuver against the SEC. The discussion was sparked by an update from former defense lawyer James K. Filan.
Ripple Will Lose This Time: Pro-XRP Lawyers Claim
Sharing his thoughts on X (formerly Twitter), Hogan remarked, “The hardest thing to do on CT is say that you think the SEC will win a motion. But HERE GOES: I think the SEC will win this motion.” He elaborated that even if the court recognizes the SEC’s witness, Andrea Fox, as an expert, the likely outcome would be similar to previous cases, where the court allowed Ripple to depose the witness rather than striking them from the record entirely.
Background Of The Motion
At the heart of the dispute is Ripple’s objection to the SEC’s expert declaration by Andrea Fox, which Ripple argues has been improperly categorized by the SEC. According to Ripple, Fox performs a deep analytical review of Ripple’s financial records, drawing conclusions that influence core aspects of the case, such as disgorgement calculations and pre-judgment interest.
Conclusion
With the ongoing legal battle, Ripple’s future remains uncertain. However, the company’s determination to fight the SEC’s allegations shows its commitment to its investors and the broader crypto community. As the case progresses, the crypto industry will be watching closely, as the outcome could have significant implications for other cryptocurrencies.
