{"id":79861,"date":"2024-05-30T03:18:07","date_gmt":"2024-05-30T07:18:07","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=79861"},"modified":"2024-05-30T03:18:52","modified_gmt":"2024-05-30T07:18:52","slug":"ripple-sec-news-lawyer-debunks-xrp-odl-sales-fud","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ripple-sec-news-lawyer-debunks-xrp-odl-sales-fud\/","title":{"rendered":"Ripple SEC News: Lawyer Debunks XRP ODL Sales FUD"},"content":{"rendered":"\n

Pro-XRP lawyer debunks FUD around Ripple's ODL sales amid latest SEC case filing<\/a>, stating that they do not negatively impact XRP's price.<\/p>\n\n\n\n

\"Ripple<\/figure>\n\n\n\n

Ripple has filed a reply letter in support of its Motion to Seal documents related to the SEC's Motion for Judgment and Remedies.<\/p>\n\n\n\n

This filing has generated considerable discourse, particularly among proponents of XRP.<\/p>\n\n\n\n

In a recent post, pro-XRP attorney Bill Morgan<\/a> elaborated on the FUD (Fear, Uncertainty, and Doubt) surrounding XRP ODL sales, strengthening Ripple's position in the ongoing lawsuit.<\/p>\n\n\n\n

Pro-XRP Lawyer Debunks FUD On Ripple\u2019s XRP ODL Sales<\/h2>\n\n\n\n

Ripple's legal team responded to Judge Analisa Torres on May 29 to refute the arguments put forth by the SEC in its motion for judgment.<\/p>\n\n\n\n

In its response, Ripple emphasized that the SEC's arguments<\/a> regarding the company's financial health were inconsequential in the court's assessment of appropriate remedies.<\/p>\n\n\n\n

Furthermore, the firm underscored the importance of not considering its financial condition when the court renders its decision, noting that it has never challenged its capacity to remit any potential penalty.<\/p>\n\n\n\n

Amid this, pro-XRP attorney Bill Morgan debunked the FUD surrounding Ripple's XRP sales to ODL consumers via social media.<\/p>\n\n\n\n

He noted that Ripple does not provide ODL customers with price reductions.<\/p>\n\n\n\n

Significantly, Morgan emphasized the update, contending that the court deemed it an essential determinant in classifying over-the-counter contracts as investment contracts.<\/p>\n\n\n\n

Morgan further contended that this fact refutes claims that Ripple's sales to ODL customers have a negative impact on XRP's price.<\/p>\n\n\n\n

Additionally, Morgan emphasized that the claim that Ripple is unloading on retail investors is unfounded, given that ODL sales have no impact whatsoever on the price of XRP.<\/p>\n\n\n\n

Reiterating that he has previously presented several arguments disproving the veracity of these assertions, he lamented the persistence of such false information.<\/p>\n\n\n\n

A Closer Look Into The Development<\/h2>\n\n\n\n

In its most recent filing, Ripple affirmed that the SEC should not have access to its sensitive financial records, which are absent substantive justification.<\/p>\n\n\n\n

The company highlighted the potential superfluousness of disclosing said information should the court opt not to consider the allegedly pivotal facts presented by the SEC.<\/p>\n\n\n\n

Notably, Ripple maintained that a valid, generally accepted rationale supports its decision to conceal its confidential financial information.<\/p>\n\n\n\n

Moreover, Ripple contested the SEC's claim that its past contracts are no longer applicable.<\/p>\n\n\n\n

The company that the provisions of its previous agreements are proprietary and that future counterparties might unjustly gain an advantage by becoming aware of such details.<\/p>\n\n\n\n

As described in the court's summary judgment, Ripple reaffirmed that the court had previously determined that XRP is not a security, emphasizing that the sale of XRP did not constitute the sale of investment contracts.<\/p>\n\n\n\n

Despite the update, the XRP price\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> decreased by 0.92% at the time of writing, trading at $0.5248, down\u00a0from its 24-hour high of $0.5321.<\/p>\n\n\n\n

However, its trading volume increased by 13% to $1.56 billion from yesterday.<\/p>\n","protected":false},"excerpt":{"rendered":"

Pro-XRP lawyer debunks FUD around Ripple’s ODL sales amid latest SEC case filing, stating that they do not negatively impact XRP’s price. Ripple has filed a reply letter in support of its Motion to Seal documents related to the SEC’s Motion for Judgment and Remedies. This filing has generated considerable discourse, particularly among proponents of […]<\/p>\n","protected":false},"author":56,"featured_media":79864,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,24],"tags":[6767,18936,18040,4680],"class_list":["post-79861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripples-news","tag-xrp-news","tag-ripple-sec-lawsuit","tag-ripple-vs-sec-news","tag-xrp-lawsuit"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/05\/Ripple-SEC-News.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=79861"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79861\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/79864"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=79861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=79861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=79861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}