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Breaking! SEC Governor Jumps in Support of Ripple, Will the Case Find a Closure Before its 2nd Anniversary?

18 min ago2 min readRegulation
Breaking! SEC Governor Jumps in Support of Ripple, Will the Case Find a Closure Before its 2nd Anniversary?

The Ripple vs. SEC lawsuit is causing ripples in the crypto space, as more people believe the agency has nothing left to prove. With Coinbase and many other organizations now backing the company, the lawsuit is expected to be resolved as soon as possible.

Meanwhile, according to some reports, SEC commissioner Hester Peirce believes that the agency is not adhering to a proper regulatory framework, which may cause them to fall behind in the race. Attorney John Deaton, who supports the claim, believes that the SEC may lose if they continue to claim that XRP is a security.

In a recent update, a popular analyst, Ben Amstrong claims the SEC Governor, Gary Gensler is now switching to the winning side!

BREAKING: The @SECGov has just joined the fight & filed an Amicus Curiae Brief to support #Ripple in the battle against… the SECGary Gensler reportedly didn’t see this coming. An anon source told BitBoy Crypto, “Gary is happy to finally be on the winning side” $XRP #XRPArmy— Ben Armstrong (@Bitboy_Crypto) November 3, 2022

The analyst claims the Governor has filed an Amicus Curiae Brief in support of Ripple in the battle against SEC, on the basis of some anonymous source. Ben himself believes that this is a parody and hence the fact needs to be checked.

On the other hand, the demand for relisting XRP on US-based exchanges has been making huge rounds in recent times. Therefore, it is believed that now when the Ripple vs SEC lawsuit is approaching a closure, a tidal wave of XRP investors may jump into the platform. This may surely impact the XRP price rally which remained aloof amid the coiling market sentiments.

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