According to BitBoy, considering new revelations, he is no longer sure the judge will favor Ripple in the ongoing SEC lawsuit.
Ben Armstrong, widely known as BitBoy, is no longer confident that Ripple will win in the multi-year legal battle with the US SEC. According to BitBoy, it is no longer guaranteed that Judge Analisa Torres will rule in Ripple’s favor, considering new revelations.
BitBoy made these remarks in his latest live Twitter broadcast in which he and his team looked into XRP’s price, headlines surrounding Ripple and XRP, as well as the Ripple vs. SEC lawsuit.
XRP MEGA RALLY! (Crypto Whales BUYING) https://t.co/q4ubR9EJNf
— Ben Armstrong (@Bitboy_Crypto) May 30, 2023
The prominent crypto influencer called attention to Ripple CEO Brad Garlinghouse’s latest remarks on the expected date for a final ruling on the case. As The Crypto Basic revealed last week, Garlinghouse noted that the community should expect a resolution of the case in weeks, not months.
BitBoy noted that there are speculations that the case is over, and they are just awaiting an announcement. He further remarked: “I don’t know if that’s true. I told you guys like June or July […] we’re getting very close. And it is going to be absolutely amazing when this thing is over – one way or the other.”
He stressed that the outcome of the case resolution would greatly impact the crypto scene, either positively (if Ripple wins) or negatively (if the SEC wins). He specifically emphasized the damaging hit the crypto scene would take if XRP loses the case.
BitBoy further emphasized that most of the time, he was sure that Ripple would win against SEC, but now the Youtuber says he is not confident about the outcome.
“I do think that’s what’s going to happen, but it’s not guaranteed, guys,” he said regarding the chances of Ripple’s victory. “I thought it was guaranteed for the longest time – I’d say, 99.9% sure, but the way the government’s going right now, I don’t know.”
However, BitBoy mentioned that if Ripple wins, the community can relax, knowing that the SEC’s perceived overreach has been clamped down.
Despite the reservations regarding the lawsuit, BitBoy’s bullish sentiment on XRP has not changed so far. In the recent broadcast, the influencer called attention to the fact that Ripple continues to champion growth moves. This could impact the trajectory of XRP’s price, which has been in an upward direction this week.
Ripple CEO Remains Optimistic
Meanwhile, Garlinghouse remains confident that the final ruling in the lawsuit would be in Ripple’s favor. One of his latest remarks pertaining to this came up earlier this month at the XRP Las Vegas event. “We’re gonna win this thing,” he declared while speaking to the XRP community.
On May 9, Garlinghouse responded to a comment from Jason Calacanis, a prominent angel investor, who argued that XRP is “obviously a security.” Taking a swipe at Calacanis, the Ripple CEO dispelled these claims. This further highlights Garlinghouse’s conviction that XRP does not pass the Howey Test.
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.
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