A surprising development in the Ripple ($XRP.X) vs. SEC debacle occurred late Friday, with the SEC filing a Motion For Summary Judgement. The SEC filed a few days after Ripple’s Motion For Summary Judgement on September 13, 2022.
So what does all of that mean? Without getting into the legal speak – and we’re not attorneys – what both of these Motions essentially say is this, ‘Hey, let’s not waste time with the trial thingy; it’s clear the other side doesn’t have enough evidence to persuade a jury, so let’s have the judge make a decision.’
Whether the courts rule in Ripple’s favor or not, analysts believe that any resolution to the case with Ripple could positively affect Ripple’s price action. And the reduction of the immediate FUD would be welcome to the broader crypto community.