XRP Lawsuit: Lawyer Reveals The Strongest Argument In The Joint Motion As Decision Day Looms

As the XRP lawsuit drags on, lawyer Bill Morgan sees potential benefits in the latest joint motion filed by Ripple and the SEC. Meanwhile, despite speculation about an imminent court decision, experts believe a short-term ruling will likely focus on rejecting the joint motion.

Bill Morgan Reveals Strongest Argument In Joint Filing

Bill Morgan has identified a compelling argument in the recent joint motion by Ripple Labs and the US SEC to bring the four-year XRP lawsuit to an end. According to an X post by the lawyer, the strongest argument by the parties in the joint motion is that modifying the final judgment is a key condition in the settlement agreement between Ripple and the SEC.

Last week, both parties filed a motion requesting Judge Analisa Torres to amend her final judgment. A community reading of the motion reveals that parties filed to dissolve the injunction restricting Ripple from offering XRP sales to institutions. Furthermore, parties are seeking to modify the penalty allocation with the SEC keeping $50 million and Ripple receiving $75 million of the funds held in escrow.

After Judge Analisa Torres shut down a prior motion for an indicative ruling for failing to show exceptional circumstances, Ripple and the SEC are making another valiant attempt to meet the legal requirements. Bill Morgan notes that parties are arguing that if the court lifts the injunction and amends the fine, it will save court resources from endless litigation.

The joint motion provides other arguments in a bid to meet the requirement of exceptional circumstances, including a change of SEC policy and a streak of case dismissals.

Critics Poke Holes In The Filing As XRP Lawsuit Judgement Day Nears

While Bill Morgan has highlighted the strongest argument in the joint filing, critics say there are a plethora of reasons why the court may reject the filing. For starters, the legal standard for exceptional circumstances is high, and an intention to settle may not satisfy the requirement.

Bill Morgan notes that parties in the XRP lawsuit can end their appeals without the need to modify Judge Torres’ final ruling. He notes that the parties are putting pressure on the court to change its decision, boxing the judge into a tight corner. However, Bill Morgan has previously revealed that a joint motion approval is likely despite its subpar arguments.

“The parties are really imposing a fiat accompli on the court and hoping the Judge excercises her discretion to accept and allow it,” said Bill Morgan. “I think she will grant the motion but it would not surprise me at all if she does not.”

Despite the perceived weakness, pro-Ripple lawyer John Deaton sees a 70% chance of Judge Torres approving the motion.

Whispers of a ruling on Monday morning are circulating in the ecosystem, but Bill Morgan argues that an early judgment signals a rejection of the motion, citing previous rejection times. The lawyer notes that it took Judge Torres only 7 days to reject the last joint motion, and calls for an early ruling may not be in the best interest of the parties.

“Less than 7 days to decide the current joint motion may not be the best sign she will grant it,” said Morgan.