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<p>The post <a href="https://coinpedia.org/news/xrp-news-ripples-defense-against-sec-stablecoin-claims-bolstered-by-binance-case/">XRP News: Ripple’s Defense Against SEC Stablecoin Claims Bolstered by Binance Case</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In recent developments, Ripple is facing the SEC head-on in the legal battle. <a href="https://coinpedia.org/news/xrp-lawsuit-update-ripples-clo-hits-back-at-sec-over-unfair-enforcement-practices/" target="_blank" rel="noreferrer noopener">Ripple’s Chief Legal Officer</a>, Stuart Alderoty, deemed the SEC’s arguments in support of its motion for remedies and final judgment weak, signaling potential progress towards the end of the lawsuit.</p> 
<p>Could this be the turning point <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">XRP</a> holders have been waiting for? Here’s the scoop.</p> 
<h2 class="wp-block-heading" id="h-sec-vs-ripple-a-clash-of-interpretations"><strong>SEC vs. Ripple: A Clash of Interpretations?</strong></h2> 
<p>Specifically, the SEC attacked Ripple’s planned stablecoin, citing it as a reason for injunctions. However, Ripple may counter this argument with the potential outcome of the Binance lawsuit, where a ruling on the status of BUSD (Binance USD) as a security is anticipated to favor Ripple’s stance.</p> 
<p>Despite the SEC’s efforts, legal experts such as James Murphy believe that Judge Torres might reject the SEC’s proposed $2 billion fine against Ripple, which is seen as a significant win for XRP, indicating a bullish trend. Murphy questions the SEC’s argument that institutional investors suffered financial harm, challenging the validity of their request for disgorgement.</p> 
<p>However, the SEC claims that institutional investors who paid a lower discount for XRP suffered from an inflated price, constituting pecuniary harm. To counter SEC, Murphy doubts the interpretation of the facts in the case, suggesting a misreading of the Second Circuit’s statement in SEC v. Govil.</p> 
<h2 class="wp-block-heading" id="h-sec-s-final-reply-and-the-latest-update"><strong>SEC’s Final Reply and the latest update</strong></h2> 
<p>The SEC filed its final reply in the <a href="https://www.dropbox.com/scl/fi/uvoe3wqksdkvhdg1xrbqz/SEC-Redacted-Remedies-Reply-Brief.pdf?rlkey=4bpb3rnm6le549e12gizhcypf&amp;e=2&amp;dl=0" target="_blank" rel="noreferrer noopener nofollow">latest update</a>, challenging Ripple’s defenses. The SEC says Ripple acted recklessly, and there’s still uncertainty about XRP’s status. Despite Ripple’s cooperation, the SEC worries about future violations. Ripple’s claims of post-lawsuit compliance are questioned. Stuart Alderoty, Ripple’s chief legal officer, criticized the SEC’s approach, saying it’s causing the SEC’s reputation to decline.&nbsp;</p> 
<p>The outcome is expected around September, and Ripple plans to introduce XRPL solutions in Japan. Additionally, Ripple awaits a court ruling on a motion to strike an expert witness, expecting a quicker final ruling within 60 to 90 days.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-xrp-jumped-with-sec-s-attack-nbsp"><strong>XRP Jumped With SEC’s Attack&nbsp;</strong></h2> 
<p>Meanwhile, after the SEC lashed out at Ripple’s stablecoins, <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" target="_blank" rel="noreferrer noopener">XRP’s price</a> showed resilience, trading near $0.52 with a slight uptick of nearly 1% in the last 24 hours. With a market capitalization of $28.3 billion, it’s among the top 10 largest cryptocurrencies. Over the past day, it experienced a total volume of $993.8 million, showing increased activity. Despite its current value of $0.512, down from its all-time high of $3.84 in January 2018, XRP still holds promise for investors.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/news/pro-xrp-lawyers-challenge-secs-weak-evidence-a-win-for-xrp-on-the-horizon/">Ripple vs SEC: Judge Torres Expected to Reject SEC’s $2 Billion Fine</a>&nbsp;</p>

XRP News: Ripple’s Defense Against SEC Stablecoin Claims Bolstered by Binance Case

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