Did Ripple Really Win The SEC Case? Legal Experts Chime In

XRP

The XRP community has been irate after an American journalist made untoward statements about the Ripple and US SEC lawsuit. The journalist has stated that XRP did not emerge victorious in its case, expressing criticism towards Judge Torres’s ruling in the SEC lawsuit. 

Ripple Partial Legal Victory Criticized

American Journalist and senior correspondent for Fox Business News, Charlie Gasparino has taken to X (formerly Twitter) to air out his controversial opinions of the legal case between Ripple and the United States Securities and Exchange Commission (SEC).

Gasparino has refuted Ripple’s partial victory in the SEC case and the journalist condemned the ruling made by US District Judge Analisa Torres that programmatic sales of XRP should not be considered a security. 

“Ripple didn’t win; it lost. Retail XRP holders “won” for now because Judge Torres issued a truly idiotic, split the baby, ruling that’s the laugh of the southern district,” Gasparino stated.

The Fox News correspondent asserted that XRP’s present trading behavior suggests a possible split. He also stated that most securities lawyers would not consider Judge Torres’s decision on the XRP case as a rational evaluation of the securities law.

“XRP is trading as if it is split and there isn’t a securities lawyer in the country who is holding what Judge Torres opined on this case as a model of sane securities law interpretation,” Gasparino said. 

Responding to Gasparino’s outlandish remarks, XRP enthusiast and lawyer Bill Morgan declared that Judge Torres’s ruling was a great victory for XRP. He stated that Ripple has gained the greater advantage following the ruling, resulting in the SEC dismissing its case against Ripple Executives, Bradley Garlinghouse and Chris Larsen. 

“There is no lawyer who thinks it was not a good result for Ripple. Otherwise, you would cite one. The decision was split but Ripple got the better of it and won the key legal issue because the judge distinguished the token from the scheme, transaction or contract and found that token wasn’t a security,” Morgan stated

XRP Community Reacts Strongly To Criticisms

Charlie Gasparino’s provocative statements about XRP on X have stirred differing reactions among XRP community members.

Many community members disagreed with Gasparino’s opinions of the Ripple and SEC case, asserting that the ruling provided XRP with better legal clarity in the ongoing SEC case. 

Additionally, criticisms were directed at the Fox News correspondent with certain XRP community members deeming him an incompetent and unprofessional journalist due to his tendency to slander commentators. 

“I’ve never known a journalist, who wants to be taken seriously and maintain his integrity, to be this obsessed with a random news story that has nothing to do with him and so eager to try and damage a company’s reputation and a judge’s reputation, with inaccurate highly opinionated statements. Because make no mistake about it, there is weight in your tweets,” an X community member stated

XRP jumps to $0.61 | Source: XRPUSD on Tradingview.com

Featured image from Coinpedia, chart from Tradingview.com

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