Eleanor Terrett, a Fox Business Journalist, and John Deaton, an amicus curiae in the US SEC v. XRP litigation, talked about a request for summary judgement. The XRP lawyer revealed some significant information about Ripple's native cryptocurrency.
XRP lawyer makes major disclosure
Deaton, who will represent XRP investors in the dispute, summarised the key motions on Twitter. He stated that the SEC's motion's major shortcoming is that it does not rely on a single expert.
No SEC expert witness is being presented, according to the XRP lawyer, that tries to demonstrate price correlation. It does not accurately reflect the work done by Ripple or the value of XRP. However, there is little evidence to support the assertion that token holders were dependent on the abilities or behaviour of the Ripple team.
SEC failed to reveal that before purchasing XRP, buyers were misled by promises made by the Ripple team. The XRP lawyer continued by asserting that there is no professional commentary that claims Ripple controls or manages the XRP ledger network.
How would this advance Ripple's cause?
As previously reported by CoinGabbar, the XRP attorney said that the provided documents seem to indicate that the XRP ecosystem may be in danger. In their motions, the SEC has made some significant accusations about Ripple and XRP being a "common enterprise."
Deaton emphasised that Judge Torres could rule on the Daubert Motions at any moment, though. This motion questions the case's experts from Ripple and the SEC.
The lack of expert testimony from the SEC, according to the XRP lawyer, is a positive development for Ripple. This may be very important in Daubert difficulties. The commission cannot, however, put it at danger by depending on it. According to information, specialists have not spoken with any XRP owners. However, his or her testimony lacks merit.
