David Gokhshtein Indicates Interest in Cupping More XRP As SEC Litigation Nears an End.
The founder of Gokhshtein Media, David Gokhshtein, is looking to amass more XRP tokens as Ripple’s legal battle with the SEC appears to be coming to an end.
The legal struggle between the U.S. Securities and Exchange Commission and Ripple Labs has affected the outlook of Ripple’s native token, XRP. After almost two years of a seemingly incessant battle, both parties have filed motions for Summary Judgment on the case.
Following these motions, David Gokhshtein, former US Congressional candidate and founder of blockchain media platform Gokhshtein Media, indicated his interest in purchasing more XRP tokens.
Gokhshtein revealed this on Twitter in the early hours of Monday. “I don’t know — I’m personally itching to maybe get a few more bags of XRP,” Gokhshtein told his 691k followers. The revelation sparked reactions amongst his audience, as noticed in the comment section.
I don’t know — I’m personally itching to maybe get a few more bags of $XRP.
— David Gokhshtein (@davidgokhshtein) September 19, 2022
Some individuals were curious about why Gokhshtein’s sudden interest in XRP. In contrast, others maintained that his resolve is a wise move, as the asset has shown some massive potential despite the legal tussle with the U.S. financial regulator.
Gokhshtein has expressed his bullish sentiment on XRP on several occasions. Last week, before reports of the Summary Judgment motions became public, Gokhshtein asserted that XRP would see a price reversal should Ripple win the case against the SEC.
“Unpopular opinion for some maxis, but if Ripple wins its (sic) case against the SEC, not only do I personally believe XRP will take off but so will every legitimate platform as well,” Gokhshtein said in a tweet.
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
The 40-year-old media personality made the same assertion in October of last year. The reiteration of his remarks underscores his firm conviction in the common avowal. Gokhshtein is also known for his persistent Shiba Inu advocacy.
Gokhshtein’s comments follow a common belief amongst most crypto proponents. The community has acknowledged the adverse effect of the neverending litigation on the price action of XRP.
Consequently, many believe that a victory for Ripple will drive more interest in the asset and further contribute to a bullish price movement. The recent Summary Judgment motions likely solidify these beliefs, as Ripple presents a strong case before the court.
Recall that both Ripple Labs and the SEC filed motions for Summary Judgment on the current case, as previously reported by The Crypto Basic. James K. Filan, a Connecticut-based lawyer, specializing in securities cases, revealed the development on Twitter Sunday.
Ripple Labs is seeking judgment as a matter of law, as it proposes that the SEC does not have adequate evidence to support its claim that XRP is a security, despite having almost two years to prove XRP security. Ripple highlighted the fact that XRP does not have any ingredients of an investment contract, as stipulated in the Blue Sky Laws.
Ripple further stated that the Howey Test, which also considers these ingredients, does not classify XRP as an investment contract. The direction of the final ruling on the case remains to be seen, but the entire crypto community is confident that it will fall in Ripple’s favor.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.