XRP Lawsuit: Latest Update & LBRY Case's Implications

The conflict between Ripple and the US SEC has progressed

through multiple stages. As the case nears its conclusion, speculation about its outcome is circulating in the crypto world.

The case has been ongoing for more than two years, and the battle appears to be never-ending. The continuing case also had an impact on the price of XRP, keeping retail interest low.

Does Ripple have an advantage?

Following the court's acceptance of arguments from groups and individuals in support of Ripple, the cryptocurrency witnessed minor successes in the past two months.

Lawyers claimed that the SEC's decision that Ethereum is not a security creates a conflict of interest. Legal authorities also believe Ripple has a better chance of winning the lawsuit than the SEC. Ripple presently has the support of 16 firms, including Coinbase, in its fight against the SEC.

Effects of the LBRY case

The SEC has been involved in legal battles with several cryptocurrency projects. The LBRY case also made the blockchain community aware of what they could potentially expect in a similar situation.

The LBRY case is similar to the Ripple case, in which the company was accused of marketing unregistered securities in the form of LBC tokens. When the company lost in November, it also took to Twitter to address the community.

The outcome of this case is significant because the SEC can use it to justify its victory in the Ripple case.