XRP Lawsuit: Ripple Gains Support Of XRP Holders In Another Case?

XRP Lawsuit News: Ripple and the defendants involved in the crucial lawsuit slammed by the U.S. SEC seem to be gaining the support of the XRP holders in another legal tussle. As per the latest fillings, Amicus Curiae in the XRP lawsuit filled is now in pursuit to enter the Zakinov v. Ripple case.

Judge To Certify Class Of XRP Holders

New fillings in the Zakinov v. Ripple case depict that John Deaton will be filing a Motion to file an Amicus Brief in the case. Here in the case, plaintiffs claim that Ripple sold XRP as an unregistered security. They want the court to certify a class of all XRP holders which includes those who purchased XRP earlier, holding XRP, or who sold XRP at a loss.

It added that the proposed class would also comprise worldwide XRP holders which don’t go with Zakinov’s claim against Ripple. However, this class is not limited to only direct sales by Ripple. As per fillings, it will also mention XRP’s secondary sales and international sales in the nation where it has not been determined as a “Security”. Read More XRP Lawsuit News Here…

What will Deaton Argue Against?

John Deaton will be arguing that the court doesn’t need to certify any class over these conflicts. He claims that there is a very small portion of XRP holders who believes the XRP is an unregistered security. The attorney is set to argue that a small portion cannot fairly represent the holders who disagree with this claim.

However, Deaton in a statement asserted that he will see all the people in the court who make absurd claims over XRP whether it is SEC or a Plaintiff’s attorney.

Meanwhile, Ripple and the US SEC are waiting for a Summary Judgement in the XRP lawsuit. However, many experts have been weighing on the LBRY vs US SEC case judgment to reflect in the Ripple case.

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Ashish Kumar

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]

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