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XRP's Last Piece of Puzzle Snapped Into Place, States Lawyer

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Sun, 23/10/2022 - 15:17
XRP's Last Piece of Puzzle Snapped Into Place, States Lawyer
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It has been learned that statements from 3,000 XRP holders will be involved in the lawsuit between the crypto company Ripple and the U.S. Securities and Exchange Commission. The notarized testimonies, referred to in law as affidavits, were collected directly by Ripple. The collection of XRP holders' affidavits was made possible thanks to the steps initiated by the pro-XRP lawyer and activist John Deaton, who also represents this group in a class action lawsuit against the SEC.

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Bringing in the affidavits of XRP holders is the last piece of the puzzle, according to another attorney, Jeremy Hogan. XRP holders are responding to the securities charge with two arguments at once. Firstly, the cryptocurrency was purchased for use as payment or for other non-investment purposes. On the other hand, those XRP holders who have confessed to investment purposes have said that they did not expect the return on their investment to come from Ripple, but from the exchange rate difference.

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Outcome is near

The news of the direct involvement of holders is another positive development for Ripple and XRP in their legal battle against the SEC. Those that have occurred in recent weeks certainly include statements from Ripple's partners describing how they are using XRP. This also undoubtedly includes the motion for summary judgment filing by the parties, details of which will be available tomorrow.

Most indisputably important, however, is the receipt of the recordings of the former SEC head's speech on Ethereum, which could finally tip the scales in favor of crypto. The outcome is definitely near.

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