SEC vs Ripple: What’s Up For XRP? Crypto Lawyer Predicts SEC’s Next Move

Ashish Kumar
February 7, 2022 Updated February 8, 2022
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In the recent turns of events, District Judge Analisa Torres unsealed three sets of documents in the SEC vs Ripple case. This move has awakened interest among the XRP investors as the XRP’s 24-hour trading volume saw a surge of more than 100%.

The three documents were the notice of Brad Garlinghouse’s deposition in the SEC formal investigation, a Chris Larsen email string, and a Brad Garlinghouse’s email string.

Read More: Ripple Lawsuit: Why 17th Feb. Is Crucial In Ripple Vs SEC Case?

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What’s next in Ripple Lawsuit?

Opening these three unsealed sets of documents in the case was like doing the Schrödinger’s cat experiment. However, famous crypto-lawyer John Deaton, who is representing more than 64,000 XRP-holders in the case, shared his take over the SEC’s next two potential moves from here.

John Deaton took to Twitter and wrote, @bgarlinghouse and @chrislarsensf ’s emails or legal were not made public. It will be near impossible to prove any real correlation between #XRP’s price and public announcements by @Ripple (ie partnerships). The SEC must also prove Garlinghouse and Larsen sold #XRP in the USA.

In reality, the SEC’s case may be so weak and desperate that it believes the only way to win is to prove that #XRP itself is a security per se. The SEC, in essence, is asserting a “but for” theory in this case, he added

Deaton stated that Judge Torres, herself, recognized this broad over encompassing theory made by the SEC.

Crypto lawyer also added that, If the SEC has difficulty proving Garlinghouse and Larsen sold #XRP w/in the jurisdiction of the United States and the quality of evidence against Ripple and it’s executives are represented in these two emails – the SEC might just believe it’s best theory is the “but for” theory.

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XRP Price update: 24-hr trading volume jumps up by 100%

After this incident, XRP’s 24-hour trading volume has witnessed a whopping surge of 100%. The coin’s 24-hour trading volume stands at $2,436,472,931 with the total market cap of $36,245,462,541.

Meanwhile, XRP’s price has jumped by 13% and is trading at $0.757, at the press time. However, the coin has recorded a gain of 28% in the last 7 days.

Ripple XRP
XRP’s 24-hr trading volume jumps by 100%
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.