XRP Holders to Face Class Certification Hearing, Will This Be Against Ripple?

Ripple attorneys are preparing for an important court hearing set on Wednesday.
The plaintiff intends to stand for all XRP holders in the class action against Ripple.

A Summary Judgement from the district court is still pending in the significant battle between the U.S. Securities and Exchange Commission and Ripple Labs. John E. Deaton, an attorney for the XRP community, stated today that he will be participating in a Zoom hearing. The court overseeing the case will not permit amicus lawyers to attend the oral hearing, in contrast to the case of LBRY vs. the U.S. Securities and Exchange Commission (SEC).

According to reports, holders of XRP who believe it to be a security. And Ripple attorneys are preparing for an important court hearing set on Wednesday. The court hearing is set for oral arguments about the issue of certifying the class of XRP holders. That is who filed a lawsuit against Ripple. Additionally, Bradley Sostak, a plaintiff who has only owned XRP for two weeks, wants to be the lead plaintiff in the class action.

In addition, he has asked the court to create a class of all XRP holders who have bought, held, or traded XRP tokens at a loss. The 75k participants on the list of XRP holders who support Ripple in its legal battle with the Securities and Exchange Commission, the US financial regulator, may be found on the list of XRP holders.

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