Ripple is walking in place alone
Bitcoin and Ethereum drew an upward graph this week, but Ripple appears to be in place. Ripple was traded at 504 won per unit, up 1.4% from the same time last week. The U.S. Securities and Exchange Commission (SEC) and the sluggish lawsuit continue, failing to respond to favorable factors such as signs of slowing inflation. Rather, the litigation conflict seems to be intensifying.
John Deaton, a U.S. lawyer representing the Ripple community, said on the 8th (local time) that the number of XRP holders participating in class action suits against the U.S. SEC exceeded 70,000. According to him, ripple holders from a total of 141 countries, including all states in the United States, participated in the lawsuit. Ditton stressed that the victory would be on the side of the XRP, saying that the number of class action participants was only seven in January 2021.
In addition, according to foreign media on the 10th (local time), Ripple asked the judge in charge to reject the SEC’s request to disclose evidence of William Hinman’s speech. Sarah Netburn, the magistrate in charge of the lawsuit, previously ordered the SEC to submit related data three times in January, April and July, but the SEC insisted on the privilege of deliberation and demanded the disclosure of related e-mail data.
In response, Ripple is ‘misunderstanding’ the ruling that the SEC allows objections to court orders. Their claim that there is an error in the court ruling to disclose evidence data is groundless, he pointed out. Meanwhile, Hinman’s speech is evidence that can play a decisive role in the “selling of unregistered securities” lawsuit between Ripple and SEC, and it is reported that he mentioned that Bitcoin and Ethereum are not securities.
In addition, the virtual asset “Clay” issued by Kakao subsidiary Ground X was traded at 410 won per unit, up 4.32 percent from the same time last week. In addition, the virtual asset “Link” issued by Naver’s affiliated company Line was traded at $48 per unit, up 9.09% from the same time last week.
