- The XRP token is on a downward trend, trading at $0.5128 with a 2.42% drop.
- Rispoli argues that the SEC will need help proving recklessness in institutional sales.
- Rispoli believes that the SEC’s lawsuit is more of a tactic to pressure Ripple into a vulnerable settlement rather than a genuine legal concern.
Fred Rispoli, a prominent lawyer within the XRP community, offered fresh insights on Ripple’s ongoing legal tussle with the U.S. Securities and Exchange Commission (SEC). Rispoli’s comments hint that the anticipated trial involving Ripple executives Brad Garlinghouse and Chris Larsen may never happen.
Furthermore, Rispoli expressed his eagerness to see figures like Hinman and Clayton, associated with the Trump Administration, take the witness stand. He mentioned that placing these individuals in front of a New York City jury could lead to intriguing courtroom dynamics, especially given their political affiliations.
Another significant point raised was the challenge the SEC would face in proving recklessness in institutional sales. Rispoli argues that any allegations can be countered by pointing to programmatic sales deemed acceptable. Additionally, he emphasized the SEC’s weak evidence regarding domestic versus international sales.
Rispoli noted that the SEC has recently restructured most of its trial team. This move and the SEC’s back-to-back trial schedules raise questions about its preparedness and strategy going forward.
The analyst’s concluding remarks hinted at the SEC’s desperate appeal attempts, suggesting that the regulatory body might be running out of options. If Judge Torres denies the appeal, the community will closely watch the SEC’s next moves.
The XRP token is on a downward trend, dropping by 2.42% to trade at $0.5128. It finds support at $0.5087 and faces resistance at $0.5259. A 4.56% decline in XRP’s trading volume over the past 24 hours suggests that this bearish momentum will likely persist.
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