- Crypto influencer believes Ripple won the favorable judgment in its legal case.
- Previously, XRP filed a 65-page document, marking the final submission in the lawsuit.
- SEC claims Ripple raised over $1.3B via an unregistered digital asset offering.
Ben Armstrong, the famous crypto influencer on Twitter, declared that the multi-year legal battle between the Ripple (XRP) blockchain and the US Securities and Exchange Commission (SEC) would settle this year.
Armstrong believes the case would end in Ripple’s favor, forcing the current SEC chairman, Gary Gensler, to resign from his duty.
Last month, John E Deaton, a blockchain lawyer, polled the crypto community on whether SEC vs. XRP would ‘Settle’ or ‘Go Verdict’ in 2023. Of the total vote cast, 59% of the respondents believe the legal tussle would resolve.
On December 2, 2022, Ripple filed a 65-page redacted reply to the SEC’s opposition to its motion for summary judgment. According to Ripples’s General Counsel, Stuart Alderoty, the filing marks the ultimate submission of the blockchain payments company in its legal battle with the SEC. Therefore, what remains is the final ruling from the court favoring Ripple.
Since 2020, the US regulator and XRP lawyers have had multiple court sessions. The dispute centered on a claim from the regulator that Ripple had raised over $1.3 billion in an unauthorized digital asset security issuance.
On Twitter yesterday, an XRP enthusiast, WKahneman, shared a brief overview of the services the Ripple blockchain proposed when starting. WKahneman claimed Ripple offered three products: xCurrent for payment messaging, xRapid using XRP as a bridge currency, and xVia, an API solution.