Alleged Intervention In The Ripple Case

The SEC suggested that XRP holders wanted to intervene in the Ripple case to "restore speculative trading."

Alleged intervention in the Ripple case. On March 26, Jorge Tenreiro, a senior trial lawyer with the US Securities and Exchange Commission, sent a letter to Federal Judge Analisa Torres. In the letter in question, he urged the court to prevent XRP holders from interfering with the Ripple case. Allowing XRP holders to intervene will result in "confusion" and "unmanageable complexity". According to the SEC, XRP investor Vladi Zakinov, who filed a class action against Ripple in June 2018, will be on the table with other owners who claim that the company sold the token as an unregistered security. On the other hand, if the court allows Movants to intervene, all other XRP holders will likely be able to intervene, including a large sum of XRP investors who sued Ripple Labs Inc for unregistered offers and sales of XRP securities.

Speculative Trading

Tenreiro suggests that John Deaton, who sent a pre-action letter on behalf of 10,000 XRP holders last week, was basically motivated by potentially selling tokens to other investors. Movant's first motivation is seen as restoring speculative trading of XRP on digital asset platforms, as well as being able to sell XRP to other investors for a profit. The SEC cited an FXStreet article citing Deaton's prediction that XRP would potentially double its price if crypto exchanges resume trading. In his tweet in January, Deaton argued that there was no disgruntled XRP investor losing money on the token.     Source: Uzmancoin.com