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Final piece of XRP’s puzzle falling into place, says lawyer

Gamza Khanzadaev

The final piece of the puzzle for Ripple is here, proclaims Jeremy Hogan

Statements from 3,000 XRP holders have emerged as implicated in the lawsuit between crypto firm Ripple and the United States Securities and Exchange Commission. The notarized testimonies, known in law as affidavits, were collected directly by Ripple. The collection of affidavits from XRP holders was made possible thanks to the steps initiated by pro-XRP lawyer and activist John Deaton, who is also representing this group in a class action lawsuit against the SEC.

Bringing in the affidavits of XRP holders is the final piece of the puzzle, according to another lawyer, Jeremy Hogan. XRP holders respond to the securities charge with two arguments at once. First, cryptocurrency was purchased to be used as payment or for other non-investment purposes. On the other hand, XRP holders who confessed to having investment goals said they did not expect the return on their investment to come from Ripple, but from the exchange rate difference.

The result is near

The news of the direct involvement of holders is another positive development for Ripple and XRP in their legal battle against the SEC. Those that have occurred in recent weeks certainly include statements from Ripple’s partners describing how they use XRP. This also undoubtedly includes the parties’ motion for summary judgment to be filed, details of which will be available tomorrow.

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Most undeniably important, however, is the receipt of recordings of the former SEC chief’s speech on Ethereum, which could finally tip the balance in favor of crypto. The outcome is definitely near.