XRP Lawsuit Verdict Crucial For Major Cryptos Other than BTC, ETH, LTC

XRP Lawsuit News: The global crypto industry is eagerly waiting for a Summary Judgment in the U.S. Securities and Exchange Commission (SEC) and Ripple lawsuit. It is anticipated that a ruling over XRP token’s nature in the Ripple lawsuit will clear out confusion created by the commission in the crypto market.

Also Read: XRP Whales Scoops 360 Million XRP; Ripple Lawsuit Verdict Near?

XRP Lawsuit Verdict To Bring Clarity?

Crypto expert, Scott Melker aka The Wolf of All Streets stated that the crypto industry needs to fight back now. He asserted that if this doesn’t happen now then there is a possibility that the US users will be left only with Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) as an option to trade in.

He highlighted that these 4 assets are being traded on the EDX crypto exchange which is operated by Fidelity, Citadel, and Charles Schwab. The Wolf of All Streets added US SEC Chair, Gary Gensler has called BTC, ETH, LTC and BCH commodities earlier.

Attorney John Deaton, Amicus Curiae in the XRP lawsuit pointed out how crucial a verdict is for the major cryptos like Solana (SOL), Polygon (MATIC), and Cardano (ADA). However, he mentioned that if the outcome turns out to be bad for XRP, not Ripple then US SEC Chair, Senator Elizabeth Warren and anti crypto campaign will gain the upper hand. Read More XRP Lawsuit News Here…

Also Read: ADA, MATIC, ALGO Are Not “Securities”: XRP Lawyer

Meanwhile, if a positive ruling comes in for XRP then it will prove to be good for other tokens. A ruling in favor of Ripple and clarity on XRP token’s nature will guide the other cryptos to fight against SEC’s allegations.