XRP Ecosystem Can Be At Risk After Ripple Summary Judgement Result

The US SEC vs Ripple lawsuit finally headed to a long time awaited conclusion after the parties filed their motion for Summary Judgment. However, filed documents suggest that the XRP ecosystem might come at risk by the end of this process.

Timeline of Xrp

Ripple Labs, along with its top executives Brad Garlinghouse and Chris Larsen, has filed for summary judgment in the nearly two-year-long dispute over XRP. The U.S. Securities and Exchange Commission (SEC) sued Ripple in late 2020 under allegations that it issued XRP as an unregistered security.

The case between the United States SEC and Ripple Labs could finally end after both parties filed for summary judgment. The post Ripple, SEC file summary judgment as crypto community watch keenly appeared first on CryptoSlate.

The parent company of XRP, Ripple, and federal regulator SEC has urged a federal judge to rule on the protracted legal tussle involving both parties. In the statement, both entities believe they need a judge to rule if the payments platform is guilty of violating the law in the United States.

The federal judge, Judge Analisa Torres, has been asked to make an immediate ruling in the Ripple and U.S. Securities and Exchange Commission (SEC) on whether the sales of XRP have violated the country's securities law or not.

Both the Securities and Exchange Commission (SEC) and Ripple Labs have asked a federal judge to rule quickly on whether Ripple's XRP sales violated US securities laws. Ripple and the SEC filed separate motions for summary judgment in the United States District Court for the Southern District of New York on September 17.

The U.S. Securities and Exchange Commission (SEC) and RIpple defendants finally submitted their motion of Summary Judgement in the crucial XRP lawsuit. However, this also kicks off the curiosity and anticipation among the XRP community over the outcome of the case.

In another installment of the long-term legal battle pitting U.S. blockchain company Ripple against the U.S. Securities and Exchange Commission (SEC), both entities have asked for a swift judgment in the agency's case against the company. 

With the Ripple Vs SEC case finally moving towards a logical conclusion, trading activity is just starting to heat up. Whether or not Ripple wins or loses the SEC case could decide the fate of a class of cryptocurrencies.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. XRP's previous patterned breakdown entailed a bearish engulfing candlestick, one that set the stage for retesting the $0.32-support over the last few weeks.

The industry-defining court case between the Securities and Exchange Commission (SEC) and Ripple Labs may be drawing to a close. The post Curtain Could Soon Fall on Ripple Labs vs.