Crypto

Ripple Seeks the Full Dismissal of the Ongoing XRP Lawsuit

The ongoing lawsuit against Ripple are not over just yet. If it is left up to the company, however, it will be dismissed rather shortly. 

Several people still argue how XRP is a security and should be traded as such.

Ripple Wants to end the Lawsuit

If that were to be the case, the consequences for Ripple will be quite severe, in many different regards.

While these lawsuits are still pending, it seems Ripple grows tired of these events.

A new filing disclosed this week indicates what Ripple aims to prove.

According to the company, the main lawsuit was brought forward too late.

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Three years have passed since the XRP “token sale”, meaning any “arguments” brought forward in the lawsuit are simply past their date.

As a result, Ripple sees only one possible outcome: a complete dismissal of the case.

Secondly, there has never been any evidence indicating Ripple’s token distribution can be labeled as an initial coin offering.

Nor did the plaintiff buy any XRP from Ripple itself or through an initial offering of any kind, despite claiming otherwise.

It is now up to the court to take these comments into consideration and act accordingly.

It is difficult to determine how this situation will evolve in the days and weeks to come.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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