Pro-XRP Lawyer Predicts Imminent Ripple-SEC Verdict, Here’s When

This post was originally published on Bitcoinist

Pro-XRP lawyer Fred Rispoli, founder of HODL Law, has made a stunning prediction on X regarding a potential verdict in the Ripple vs. SEC case. Rispoli noted a recent filing case, specifically Ripple’s Notice of Supplemental Authority regarding the recent Binance decision by the US District Court for the District of Columbia.

The court’s decision in the Binance case on June 28, 2024, ruled that the SEC had not adequately demonstrated that secondary market transactions of BNB tokens constituted securities transactions. This is particularly relevant for Ripple, as it draws a parallel to its own legal challenges.

XRP Lawsuit Over By End Of July?

In his X post, Rispoli noted, “Just got a notice of a filing in SEC vs Ripple case and my heart skipped a beat…but don’t worry, no ruling just yet. It was Ripple’s notice to Judge Torres of the Binance decision last week.”

Ripple has argued that, similar to the Binance case, the transactions involving XRP tokens on secondary markets do not meet the criteria of securities transactions under US law. This defense hinges on the application of the “Howey Test,” a legal test used to determine whether certain transactions qualify as investment contracts.

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