As the legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) continues to await the decision of Judge Analisa Torres of the United States Southern District Court in New York, Ripple’s chief legal officer has spoken with a reassuring statement on Twitter. .
The opposing statement comes as the SEC executes “Operation Choke Point 2.0” which is supposed to fight the crypto industry, and also faces the first day of trial in two weeks in the litigation over the Bitcoin spot ETF with Grayscale.
Ripple’s Stuart Alderoty stated that the SEC has lost a total of four out of five cases brought to the Supreme Court:
The SEC has lost 4 of the last 5 cases in the Supreme Court, because few have the courage and resources to fight the SEC’s bullying and cling to a legal position that is not loyal to the law.
Is Ripple willing to fight in the Supreme Court?
The statement caused an uproar in the XRP community as the reference to the statement was unclear. Does Alderoty state that Ripple is willing to go to the Supreme Court if there is an adverse outcome of the court case? Or is Alderoty just pointing out that the SEC often has a poor record of cases against strong opponents who oppose the agency’s overreach?
XRP community lawyer John E. Deaton referred to Alderoty’s statement. Especially important is the last sentence, where Deaton states that summary judgment can be a preliminary to summary appeal:
I have no doubt Ripple will win and the Supreme Court will now close the SEC’s gross overreach. The West Virginia vs EPA case is all you have to read to agree with me. Ripple’s summary summary has been a well-written appeal summary.
In the case referenced by Deaton, the Supreme Court ruled that the United States Environmental Protection Agency (EPA) lacked congressional authority to limit emissions from existing power plants by switching generation to cleaner sources.
Deaton may be referring to the fact that the SEC is overstepping its authority with the XRP securities lawsuit and that only Congress can provide regulatory clarity. The Supreme Court has the authority to require this.
But at this point, there is no clear indication from Ripple executives that the company is ready to continue the battle in the Supreme Court. In recent months, some Ripple executives have repeatedly expressed optimism about the favorable outcome of the court case.
At press time, XRP was trading at $0.3923, seeing rejection at key resistance at $0.4083 yesterday.
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