- Ripple filed a strong objection against the SEC seeking post-complaint sales information, potentially leading to a court hearing.
- Crypto personalities like Ashley Prosper and Bill Morgan believe Judge Netburn will likely deny the SEC’s motion.
- Bill Morgan highlights the question of whether Ripple’s On-Demand Liquidity customers, who use XRP, actually expect profits.
Ripple made waves yet again on January 19th with its latest court filing, defiantly challenging the SEC’s motion to compel. As the Ripple vs SEC lawsuit continues to capture the crypto community’s attention, many analysts have contributed their insights and predictions to the legal battle.
If you intend to make sense of all the updates in the crypto space, you are not going to want to miss out on what they have to say. Read on!
Ashley Prosper’s Insights
In the spotlight is Ashley Prosper, a well-known crypto personality and staunch XRP advocate. Recently, he shared his predictions on the SEC’s motion to compel via the social media platform X. With confidence, Prosper asserted that Judge Netburn is likely to deny the SEC’s motion, offering a potential scenario of a hearing preceding any denial.
Prosper’s track record for accurately predicting the nuances of the SEC v. Ripple case adds weight to his claims. Alongside a dedicated community of XRP enthusiasts, he suggests that private entities, including financial powerhouse JP Morgan, might have played a private role in influencing the SEC’s decision to sue Ripple.
Also Read: Ripple CEO Halts IPO Plans in USA; “Hostile” SEC to Blame?!
Bill Morgan Pitches In
Adding to the narrative, Bill Morgan, a legal professional and crypto enthusiast, responded to James K. Filan’s tweet, highlighting Ripple’s stance on the SEC’s motion.
Morgan affirmed Ripple’s contention that the SEC lacks proper cause for investigating post-complaint sales. He pointed out that such sales were already part of the discovery process in 2021, with the SEC fully aware of Ripple’s post-complaint sales during that period.
As Morgan predicted, the SEC’s pursuit of discovery prompts a pivotal question: Do post-compliant sales align with the Howey test? Drawing attention to the fact that most buyers are On-Demand Liquidity (ODL) customers, Morgan poses a crucial query: How do ODL customers anticipate profits from utilizing XRP?
Read More: Ripple Buys Time in SEC Lawsuit: Here’s How it Could Lead to a Favourable Ruling!
