Ripple Case Takes A Turn As XRP Advocates Acknowledges Validity Of SEC's Claim

[Coinpedia Fintech News]

There's been a new development in the ongoing lawsuit between Ripple and the SEC, and it might have a big impact. An advocate for XRP and attorney named Bill Morgan has revealed that the SEC's own expert said that since mid-2018, changes in the price of Bitcoin and Ethereum have accounted for up to 90% of changes in the price of XRP.

Morgan thinks that if the SEC's expert is correct, Ripple is to blame for allowing the price of Bitcoin and Ethereum to influence the price of XRP. He also thinks that Ripple's centralized management means they control the price of XRP.

Interestingly, Morgan also agrees with the SEC's claim that investors rely on Ripple's efforts to create profits. He thinks that investors are not depending on Ripple's sales of XRP, but on their legal efforts in winning the lawsuit against the SEC.

Another attorney named Jeremy Hogan has reacted to Morgan's claims and made an assumption that the judge overseeing the Ripple lawsuit might decide that sales of XRP since mid-2018 were not securities because even the SEC acknowledges that Ripple's actions since that time have had almost no impact on XRP's price. This could lead to an unexpected verdict in the case.