Judge in Ripple case lets in 13 amicus briefs for XRP and 6 times fewer for SEC, price suddenly spikes 10%

Today, it was made public that Judge Torres, in charge of the SEC’s lawsuit against Ripple, has granted admission to all amicus briefs submitted in support of either side. It was noteworthy to note, however, that there were six times as many briefs submitted in favor of the regulator as in favor of Ripple, or more precisely, XRP.

XRP and Ripple Receive Six Times More Briefs in Support Than SEC

Coinbase, Ripple partners, as well as numerous pro-crypto charitable groups and associations, disagreed with the SEC’s stance and expressed support for XRP. Additionally, the court accepted a document from XRP holders whose interests are protected by John Deaton, a lawyer who successfully assembled 75,000 investors. There are 13 such briefs in favor of the cryptocurrency side.

Only two parties were simultaneously in favor of the SEC and its rhetoric. The New Sports Economy Institute and investor accreditation platform InvestReady were the first and second, respectively. These organizations contend that cryptocurrencies should be rigorously controlled because they are not investment tools but are somewhat speculative.

Just after John Deaton filed a class action lawsuit on behalf of XRP holders to address the SEC’s complaint against Ripple, another lawsuit was filed. In light of this, nearly 4,000 petitions requesting an investigation into FTX CEO Sam Bankman-Fried and SEC chairman Gary Gensler were submitted to the U.S. Congress via CryptoLaw a week after FTX went down.

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