XRP attorney John Deaton says Ripple wants to win in District Court. It's playing long-term.
The SEC requested more time to respond to LBRY's request to limit the commission's remedies.
Prevail in the District Court. It is, however, viewing it as a long game.
When LBRY argued that the commission's remedies should be limited, the U.S. Securities and Exchange Commission (SEC) filed a motion asking for more time to respond. LBRY has voiced opposition to the proposal. The decision of LBRY v. SEC, it is hypothesised, will impact the XRP lawsuit.
All speculative supposition surrounding this topic has been disproven by John Deaton, the XRP holder's attorney in the SEC action. He made reference to his earlier prediction of what might occur if LBRY lost the lawsuit. The SEC would first appeal Judge Torres' decision. The second is that XRP will also be predicted to suffer the same fate by some.
He emphasised that in the XRP litigation, Ripple does not have the burden of evidence. SEC holds it while. The commission, however, did a respectable job of replying to Ripple's pre-1934 Blue Sky Laws contention.
The 2nd Circuit Court is the major factor separating the XRP litigation and the LBRY lawsuit. While LBRY is not, the XRP action is in the 2nd Circuit. The LBRY, however, did not dispute the common enterprise factor.
Ripple intends to prevail at the District Court, according to the XRP Lawyer. It is, however, viewing it as a long game. The defendants contend that once a court determines that any underlying contract exists, the wording utilised by the Apex court in Howey applies.
It is doubtful that Judge Torres will accept the argument, though. It would be assumed that Judge Castel was mistaken in the Telegram if she concurs with this. At this point, Ripple's greatest chance of succeeding in the XRP case is to stay with a proper Howey analysis.
Deaton continued by saying that the SEC cannot fulfil its obligation in the XRP case with regard to XRP secondary market transactions. There is already a claim that there is no vertical commonality in this situation. The likelihood of an XRP price increase is unrelated to Ripple and its current initiatives.
