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CoinShares: “The Market Is Increasingly Confident In Ripple Win”

CoinShares: “The Market Is Increasingly Confident In Ripple Win”

Recent developments in Ripple Labs’ lawsuit against the Securities and Exchange Commission (SEC) appear to be boosting confidence in XRP, data from CoinShares shows. In the latest edition of the Digital Asset Fund Flows, which it launched on November 7 publishedButterfill writes that XRP products welcomed institutional capital for the third week in a row.

1.1 million dollars

Incidentally, these are not large net inflows, because for the past week the XRP products received 1.1 million dollars in institutional capital. However, according to Butterfill, this is a sign that investors are increasingly confident that Ripple Labs will win the case against the SEC.

In recent weeks, Ripple Labs has been gaining support from big names in the industry, including Coinbase and the Blockchain Association.

Furthermore, on November 4, Stuart Alderoty, the head of Ripple Labs’ legal department, published that “Several independent voices, companies, developers, exchanges, organizations and retail token holders” have offered help to show how “dangerously wrong” the SEC is. sit.

Small setback for Ripple

Incidentally, a recent ruling by the United States District Court has ruled in favor of the SEC in another case against a crypto company. In this case, it went into the blockchain technology-based payment network LBRY. This ruling could theoretically complicate Ripple’s case for the company.

In the case of LBRY, the judge ruled that the tokens were of no use at the time of the first sale. Either way, attorney Jeremy Hogan expects this ruling to come back in the SEC’s latest effort to make some more of the Ripple case.

Lawyer John Deaton indicates that this does not diminish his confidence in a good outcome for Ripple Labs. Today, he comes out with a further explanation of his stances regarding the lawsuit between Ripple Labs and the SEC.

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