- XRP Army proponents argue that Ripple’s win on fair notice guarantees Ethereum a victory on the same.
- XRP and Ethereum holders are on the same side of the argument, expecting Ripple Labs to win the case.
- Ripple’s lawyers filed a Freedom of Information Act request over unfair treatment by the SEC, pulling Ethereum in an ongoing legal tussle.
Contrary to common belief, XRP and Ethereum holders are not on opposite sides in the SEC v. Ripple case. XRP army proponents consider that Ripple’s win is likely to impact the overall cryptocurrency market positively.
Ethereum holders to benefit from XRP’s win on fair notice
An XRP Army proponent John Deaton recently argued that XRP and Ethereum holders are on the same side of the legal battle between the Securities & Exchange Commission (SEC) and Ripple.
Deaton argues that if Ripple wins the case on fair notice defense, it guarantees a victory for Ethereum holders. Ripple lawyer’s defense is built on the premise that the payments giant did not have reasonable, fair notice from the SEC about whether the sales of XRP are considered illegal sales of securities.
The firm’s requests for admission (relating to the fair notice) may not be answered if the Judge grants SEC’s motion to strike the fair notice defense.
Deaton shared his thoughts on how Ripple and Ethereum holders are fighting the same battle.
Judge Sarah Netburn has ordered the SEC to turn over documents related to the analysis of Ethereum. If Ripple’s team of lawyers can prove with a reasonable belief that XRP is not a security and show that XRP Ledger and the ecosystem is more decentralized than Ethereum, the giant is likely to win.
When Ripple’s lawyers filed a Freedom of Information Act request over unfair treatment of XRP by the SEC, Ethereum was roped in the legal tussle between the payments giant and the regulator.
Deaton believes that XRP and Ethereum holders are fighting the same battle, and Ripple’s win is likely to fuel a bullish narrative for the two altcoins among traders.