June 24 (Cointime) - The Summary Judgment in the ongoing legal battle between the SEC and Ripple is expected to bring clarity to the categorization of XRP as a security. However, concerns have been raised by XRP holders regarding the nature of XRP during various stages of sales. One XRP holder stated that they invested in XRP due to their knowledge of Ripple, and that their first purchase was made after reading an article about potential bank usage. XRP holders' lawyer, John Deaton, clarified that if Ripple had direct contact with the buyer and sold them XRP, then there is a valid argument for XRP satisfying the prongs of the Howey test.
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XRP Lawsuit Summary Judgment Expected to Provide Clarity on "Security" Categorization as XRP Holders Raise Concerns
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