In a hot development from the Ripple case, another corporate lawyer has petitioned the court to withdraw from the case. While the SEC case awaits the final decision, Ripple is changing its defense team.
Another Ripple lawyer withdraws from the case
According to a file filed in the Southern District Court of New York on July 12, Ripple attorney Anna R. Gressel has filed a motion to withdraw from Ripple Labs’ attorneyship. Anna Gressel has also terminated her relationship with her law firm, Debevoise & Plimpton.
With Gressel’s departure, other Debevoise & Plimpton attorneys will continue to represent Ripple Labs in the lawsuit. In addition, Ripple claims that Gressel’s decision will not affect the interests of the defendants, including CEO Brad Garlinghouse and co-founder Chris Larsen.
As the Ripple and SEC decision approached the final corner, some lawyers decided to withdraw from the case. Previously, attorneys Clayton J. Masterman and Kylie Chiseul Kim withdrew from the case. Ripple spokespersons state that the withdrawals did not have a negative impact on the case.
Meanwhile, Ripple’s cryptocurrency XRP has received news of a new listing amid hot developments…
BitBuy announces it will relist XRP
The SEC lawsuit in late 2020 was followed by the delisting move of major exchanges. XRP has left the list of almost all major exchanges, including Coinbase. Crypto exchange BitBuy, which delisted XRP in January 2022, is now taking steps to reopen its listing. Users are currently reporting that they can buy/sell XRP on BitBuy. BitBuy has yet to make an official listing announcement.
When will the SEC-Ripple lawsuit end?
Ripple CTO David Schwartz predicts that the SEC lawsuit will last until September. cryptocoin.com As we have reported, he shared his expectations on Twitter during the week.
Meanwhile, according to Ripple’s New Value 2023 Report, over 90% of financial industry leaders see potential in cryptocurrencies. However, despite such promising updates, the buying pressure of XRP underscores an alternative reality.
The same report claims that they expect Blockchain to have an impact not only on the financial industry but also on businesses and society in general.
The report also revealed that 58% of financial industry executives expect the biggest benefit from blockchain and crypto to be payments. These were especially cross-border payments. According to the report, tokenization is among the use cases that will accelerate growth. Interestingly, the two are under Ripple’s operations.
What awaits XRP?
Although recent developments have changed the possible outcome of the case in favor of Ripple, there is still a risk of a different outcome. Investors are aware of this, so they are struggling to push back $0.50 in XRP. XRP is currently trading in the $0.4735 region, where it has moved sideways from the last 24 hours. The first target of the bulls will be to permanently surpass the critical resistance at $0.50.
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