Since the duo of blockchain payments firm Ripple Labs Inc and the United States Securities and Exchange Commission (SEC) requested an expedited trial for their long-running lawsuit, more updates have emerged, with Ripple in a positive position regarding to most of them.

While the SEC released Hinman’s long-disputed deposition on court instructions, Ripple’s attorney John Deaton gathered affidavits from many XRP coin holders. According to the shared update, the testimonials of these XRP investors will show the court two important things.

The first thing is that XRP holders will testify that they did not buy the symbolic as an investment asset, but rather for payment and non-investment purposes. Second, those who acquired the coins testified to the fact that if they expected some form of reward for the claim of their security status, they expected such gains to come from price appreciation over time.

The affidavits of these XRP holders are I consider the final piece of the puzzle from a fellow attorney, Jeremy Hogan.

Ripple has taken its defense against the SEC to new levels, and in addition to the XRP users it has gathered in recent months, the company has also received testimonials from its partners showing how everyone is making use of the XRP coin and how Ripple is helping to make payments easier across the board.

The SEC slammed Ripple with a $1.3 billion lawsuit in December 2020, alleging that the blockchain payment company was involved in selling XRP securities. From the beginning, legal experts have noted that the regulator has a weak case against the company, and Ripple has gone to great lengths to ensure that the SEC does not win the case so as not to form a precedent that is difficult to reverse. in the crypto industry.

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