The lawsuit between the US Securities and Exchange Commission (SEC) and Ripple seems to be drawing to a close. Meanwhile, former US politician David Gokhshtein is showing more interest in altcoin project XRP.
Gokhshtein drew attention to the popular altcoin XRP: He wants to save
David Gokhshtein, founder of Gokhshtein Media, talked about Ripple’s XRP. As Ripple’s legal battle with the SEC seems to be coming to an end, it wants to accumulate more XRP tokens. The legal battle between the SEC and Ripple Labs has affected the appearance of Ripple’s native token, XRP. In the second year of a seemingly uninterrupted war, both sides sought a “summary decision” on the case.
Following these moves, former US Congressional candidate and founder of blockchain media platform Gokhshtein Media, David Gokhshtein, expressed interest in buying more XRP tokens. Gokhshtein made this thought clear on Twitter earlier on Monday. “I don’t know – maybe I’m dying to get a few more bags of XRP,” Gokhshtein told his 691k followers. As noticed in the comment section, the tweet sparked a backlash among followers.
Unpopular opinion for some maxis but if Ripple wins it’s case against the SEC, not only do I personally believe $XRP will take off, but so will every legitimate platform as well.
— David Gokhshtein (@davidgokhshtein) September 12, 2022
Some people wondered why Gokhshtein’s sudden interest in XRP. In contrast, others argued that its decision was a wise move, as the asset shows great potential. Gokhshtein has expressed his bullish sentiment about XRP several times. Last week, before reports of Summary Decision moves were made public, Gokhshtein claimed that XRP would see a price change if Ripple wins the case against the SEC.
Ripple and SEC want “summarized decision”
The 40-year-old media personality made the same claim in October last year. His repetition of his words underscores his firm belief in the altcoin. Gokhshtein is also known for her persistent Shiba Inu advocacy. Gokhshtein’s comments follow a common belief among most crypto advocates. The community acknowledged the unending litigation’s negative impact on XRP’s price action. As a result, many believe that a victory for Ripple will attract more attention to the asset.
He also emphasizes that this will contribute more to the bullish price action. The recent summary judgment request is thought to solidify these beliefs, as Ripple presents a strong argument to the court. As we reported on cryptokoin.com, both Ripple and the SEC have petitioned for summary judgment on the current case. James K. Filan, an attorney specializing in securities litigation, announced the development on Twitter on Sunday.
SEC failed to prove XRP is a security
Ripple Labs has argued that although XRP has almost two years to prove it is a security, the SEC does not have enough evidence to prove it. Therefore, he stated that he wanted a legal decision. Ripple emphasized that XRP does not have any component of an investment contract as stipulated in the Blue Sky Laws. Ripple also stated that the Howey Test does not classify XRP as an investment contract. The direction of the final decision on the case remains to be seen.
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