Home Altcoins News Legal Expert Slams Fox Correspondent’s Critique of XRP’s Verdict and Market Performance

Legal Expert Slams Fox Correspondent’s Critique of XRP’s Verdict and Market Performance

XRP

In a recent turn of events within the ever-evolving realm of cryptocurrencies, a scathing critique from Fox Business Senior Correspondent Charles Gasparino has stirred controversy. Gasparino took to social media to lambaste the verdict in the Ripple v. SEC case, drawing the ire of legal expert Bill Morgan based in Australia.

The Ripple v. SEC case has been a focal point in the cryptocurrency world, with ramifications stretching beyond mere courtroom battles. Gasparino’s comments, branding Judge Analisa Torres’ decision as “idiotic” and deriding the U.S. District Court of the Southern District of New York, sent shockwaves through the digital currency community.

Gasparino’s criticism stemmed from his perception that the judgment seemingly split the baby, granting partial victories to both the SEC and Ripple. However, legal experts swiftly countered his claims, asserting that the ruling didn’t delineate a split and crucially clarified XRP’s status as a non-security asset.

Cryptocurrency watchdog CryptoLaw.US was quick to point out that Judge Torres’ verdict specifically recognized Ripple’s programmatic XRP sales as non-securities, applying the Howey test to validate the transaction. Gasparino’s commentary further extended to disparaging remarks about XRP’s current market performance, insinuating that the cryptocurrency was trading as though it had been divided.

Disputing Gasparino’s statements, Attorney Bill Morgan intervened, citing the advice given by securities lawyers associated with U.S.-based exchanges. These legal experts had recommended the relisting of XRP following Judge Torres’ pivotal summary judgment on July 13, which notably declared the coin itself as non-security. Morgan emphasized the significant impact of this judgment, highlighting the subsequent relisting of XRP by major exchanges like Coinbase and Kraken in the United States.

The controversy deepened as Attorney Morgan referenced a popular XRP advocate, Moon Lambo, who had echoed similar sentiments in a recent YouTube video. Acknowledging Lambo’s insights, Morgan highlighted the consensus among legal circles affiliated with major exchanges, underscoring the significance of Judge Torres’ decision in reshaping perceptions of XRP’s regulatory standing.

Amid this legal tug-of-war, the XRP market faced notable fluctuations. At the time of writing, XRP was trading at $0.599, marking a 3% decline over the past 24 hours. Over the previous week, XRP witnessed a 9% drop, and in the past two weeks, a 2.4% decrease, according to CoinGecko data. These price swings have added fuel to the ongoing debates surrounding XRP’s legal classification and its market performance.

Moreover, Attorney Morgan acknowledged the arguments put forth by prominent XRP advocate Moon Lambo, who addressed Gasparino’s consistent disparagement of Judge Torres’ ruling in a recent YouTube video. Morgan stressed the relevance of these discussions in shaping the discourse around XRP’s legal standing and market perception.

While these legal debates and interpretations reverberate in the cryptocurrency community, the market itself remains in flux. At the time of writing, XRP experienced a 3% decline over 24 hours, trading at $0.599. CoinGecko data indicated a 9% dip over the past seven days and a 2.4% decrease in the past two weeks, portraying a fluctuating landscape for this particular digital asset.

This ongoing saga underscores the intricate relationship between legal interpretations, market dynamics, and public perception within the cryptocurrency sphere. The Ripple v. SEC case and subsequent commentary serve as a microcosm of the challenges and complexities inherent in navigating the regulatory landscape for digital currencies.

Read more about:
Share on

Steven Anderson

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9

Crypto newsletter

Get the latest Crypto & Blockchain News in your inbox.

By clicking Subscribe, you agree to our Privacy Policy.