SEC Can’t Win Ripple Case Over Howey Test; Attorney predicts
U.S. Securities and Exchange Commission (SEC), Ripple and defendants and the whole crypto community are waiting for the summary judgment in the XRP lawsuit. However, the Attorney covering the crucial case has dropped good XRP news for the community.
SEC to win summary ruling in XRP lawsuit?
According to Attorney Jeremy Hogan, the SEC’s motion for summary judgment might not get approved over several claims. He highlighted that the commission cannot meet the burden of elements of the Howey test.
He suggested that in order to win the motions for summary judgment, the SEC needs to prove every element by the greater weight of the evidence. Or the need to prove that there is no genuine dispute of a material fact.
Hogan mentioned the SEC’s sole evidence is statements from Ripple. It will also include a handful of purchasers about Ripple’s involvement in the price of XRP. However, the commission has abandoned an expert witness on this issue.
Earlier, Coingape reported that the SEC has asked the court for additional time to file a reply to amicus briefs.
What US watchdog lacks in motions?
Meanwhile, the defendants have countered the SEC’s claims with its own expert witness. This move correlates XRP price action with market forces since 2018. Ripple has even filed 3k affidavits from Deaton (Amicus Curiae) and XRP holders claiming that they were not looking to Ripple to increase the XRP price.
Hogan stated that the SEC has absolutely failed to meet its greater weight of the evidence burden. Now, a handful of SEC Statements of over 8 years stand in front of expert opinions and 3K affidavits. However, if the court keeps this aside then there is still a genuine issue of material fact.
On the other hand, Ripple has filed direct, hard evidence that a reasonable XRP purchaser was not relying on Ripple to price surge.
- Trump Emerges as a $870 Million Bitcoin Whale Amid Historic Crypto Market Meltdown
- Breaking: Trump Backtracks on 100% China Tariff Threat Says ‘Don’t Worry, It’ll Be Fine’
- Binance Founder CZ Addresses BNB’s Recent Strong Price Performance, Says It Has No Market Makers
- Saylor Hints at New Bitcoin Buy After Friday’s Crypto Crash
- Peter Brandt Flips Bullish on Bitcoin, Ethereum, XRP, and XLM
- PEPE Coin Price Reenters Historical Demand Zone as Whales Accumulate $5M— Can It Repeat Its 123% Rally?
- Bitcoin Price Prediction as Trump’s Tariff Shock Triggers $19B Liquidation
- Can $TAPZI Reach $1 In Q1 2026?
- Here’s Why XRP Price May Have a Zcash-Like Surge
- $TAPZI Price Prediction: What’s Ahead of the $TAPZI token Presale?
- Cardano Price Targets $2 as Hydra 1.0 Ignites New Era of Speed and Adoption
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.
