XRP Investors Won't Be Involved In Ripple Case

Federal Judge Analisa Torres denied XRP investors' request to intervene in the Ripple case.

XRP investors won’t be able to get involved in the Ripple case. Federal Judge Analisa Torres denied XRP investors' involvement in the case against Ripple by the US Securities and Exchange Commission (SEC) in December. The decision sprouted the SEC's efforts to put Ripple on the defensive. However, if investors want to try again, they will be able to make such a request again at a later date. In addition, the deadline for adding new parties to the case is set at March 16. So Ripple has to continue its legal battle without getting any help from the XRP army.   Difficult for XRP Holders Earlier, John Deaton of the Deaton Law Firm accused the SEC of causing more than $ 15 billion in damages against Ripple and filed a request on behalf of thousands of XRP owners to intervene in the case. If this request was accepted, token holders could have been involved as third-party defendants. Earlier this month, they withdrew the petition for a supreme court order filed with the federal court at Hode Island for the SEC to amend its complaint. Multiple cryptocurrency platforms have begun to remove or suspend trading of the token, and these developments have led to a sharp drop in the XRP price. Kraken CEO Jesse Powell made a statement about XRP trading restrictions a few days ago, arguing that this poses "a huge asymmetric risk" to cryptocurrency exchanges.