Ripple Lawyer Expects Ruling Tonight, XRP Could See Major Price Movement
• Ripple attorney John E. Deaton expects the SEC and Ripple case ruling tonight or in a couple of weeks.
• Judge Analisa Torres released her ruling on the motion filed by both parties to rule out expert testimony.
• The court granted in part Ripple’s motion to strike out testimony from the SEC’s Expert No. 1.
SEC and Ripple Case Ruling
Attorney John E. Deaton expects the US Securities and Exchange Commission (SEC) and Ripple case ruling tonight or in a couple of weeks. Judge Analisa Torres recently released her ruling on the motion filed by both parties to rule out expert testimony.
Daubert Motion Ruling
In her Daubert motion ruling, the judge denied and granted a motion in part from both parties. The court granted in part Ripple’s motion to strike out testimony from the SEC’s Expert No. 1 as well as struck out an opinion from the SEC’s Expert No. 4 concerning the risk of XRP Ledger if Ripple „disappeared.“
Victory for XRP Holders?
According to Attorney John E. Deaton, this appears to be a huge victory for XRP holders as they purchased their assets expecting profit from Ripple’s efforts – which speaks to elements of Howey Test – indicating that XRP is not considered a security under US law . Attorney Jeremy Hogan also confirmed that this could be seen as victory for Ripple-Pro, should it prove true upon further assessment of all evidences presented during trial proceedings.
Potential Impact on Crypto Markets
The outcome of this case will bring massive price movement across crypto markets, particularly for XRP – depending on whether it is labeled a security or not according to US regulations . This could potentially have drastic effects on cryptocurrency adoption across other countries as well since many nations look up to US laws when framing their own regulatory framework .
It is unclear when the verdict will be reached but with Judge Analisa Torres’ recent rulings, it appears that there won’t be any significant delays before we get our answers regarding this highly-anticipated case between SEC and Ripple Labs Inc..