In the ongoing lawsuit between the SEC and Ripple, Judge Analisa Torres made a positive decision for XRP holders. While this important development was announced by attorney James Filan, the attorney representing XRP holders shared the information that John Deaton was allowed to be partially involved in the case. Thus, the SEC's efforts to prevent the appointment of an expert in the case proved fruitless.
In the ongoing litigation process, the expert will not be considered as an expert for the time being, but will be able to request a short meeting with SEC experts according to the decision. In addition, while about 69,000 XRP investors were mentioned in the lawsuit, it was reported that the SEC tried to keep these investors out of the lawsuit due to the high figure.
In March 2021, XRP holders, represented by attorney Deaton, applied to become involved in the lawsuit. Although this was denied by the court, the group later gained an indirect right to participate in the litigation process. This status, known as “Amicus Curiae”, is used for individuals or organizations that are not parties to a particular lawsuit but have the power to advise the court.
In a previous ruling on the Ripple case, Judge Sarah Netburn had rejected the SEC's request that William Hinman negotiations be covered by attorney-client privilege and not taken into account by the court.
Ripple's local token XRP has suffered serious damages during the lawsuit that has been going on for 2 years. Recent positive developments have not been priced seriously in the XRP market due to the general market conditions. XRP, which is in 7th place with a market value of $ 16.2 billion, is trading at $ 0.335 with an increase of 2.1 percent in the last 24 hours. On the other hand, XRP has lost more than 10 percent in the last week.