XRP Lawsuit: Ripple Gains Upper Hand In New Court Ruling

XRP Lawsuit News: U.S. District Judge, Analisa Torres on Monday announced her decision on the motion to preclude expert testimony by both parties (Ripple and U.S. Securities and Exchange Commission). The court order stated that the parties’ motion, keeping Summary Judgement and trial in consideration, is granted in part and denied in part.

However, Attorney involved in the XRP lawsuit has claimed that the Judge gave out a ruling in the favor of Ripple and the Defendants.

Expert Testimony To Be Precluded In XRP lawsuit

As per the court order, the analysis of Expert No.1’s opinions makes it to be precluded from testifying as its opinion is around the perception of a reasonable XRP purchaser. However, the US SEC motion to disbar the rebuttal testimony is being denied. It added that the court shall not further address the commission’s arguments around it.

Attorney John Deaton, Amicus curiae in the XRP lawsuit praised Judge Torres’s ruling and stated that this shows how XRP holders can make a difference here. He highlighted the court’s order that says Defendat’s motion to preclude expert No.4 from testifying is granted. Read More XRP News Here…

The judge stated that it is granted because of his third opinion about the risks to the XRP Ledger which can materialize if the Defendants disappeared or walked away. However, the rest of his testimony is denied.

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Is Ripple In The Lead?

Deaton stated that the court’s this ruling mentions more than 50 affidavits submitted from independent developers on the XRP ledger. While Spend the Bits’ Amicus Brief probably didn’t damage to show that the XRP ledger could survive without the Ripple here.

He also mentioned that the US SEC asked the Judge to revoke his Amicus status over the motion to file an Amicus Brief. However, the didn’t accept the argument.

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Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]