XRP holders want to write letters to Judge Torres, lawyer says no good can come from it

XRP holders, in a fit of impatience, are deliberating a more hands-on approach to get things rolling in the case against the US Securities and Exchange Commission. This comes after many months of waiting with no significant development from the overseeing Judge Analisa Torres. The stall has had a toll on Ripple price, causing a 20% value slump since March 21.

Also Read: Ripple price suffers the aftermath of Hinman email failure as the XRP hype train dissipates

XRP holders to jump-start the court

XRP holders have proposed a campaign to the court after what started as a joke quickly transformed into the next course of action. The Ripple community thinks writing letters to Judge Torres would help expedite a ruling as they impatiently wait for the summary judgment.

XRP community members, and the token, which boasts a cult-like following, have suffered the brunt of a weary market as investors show a lack of momentum. Citing one community member on Twitter, "To: JUDGE TORRES This SEC court case has taken a huge toll on the entire XRPCommunity & their families ...emotionally & physically ..!"

Notably, the last development in the case came on March 21, when Judge Netburn granted Ripple’s motion, compelling the SEC to produce key documents concerning the agency’s communications with third parties regarding XRP, including Bitcoin (BTC) and Ethereum (ETH). 

Pro-Ripple attorney John E. Deaton has discouraged the thought, urging that it would not achieve any good.

Seemingly, the idea to jot letters to the court has not started now, with Deaton acknowledging that several community members have been reaching out to him directly with calls to action intended to excite a significant update from the court. The lawyer empathizes with the frustration and encourages the XRP community to exercise more patience, saying, “We are literally at the 11th hour.”

As loyalty continues to abound, Ripple Chief Technology Officer David Schwartz has also reacted to the post, thanking the XRP community for their support.

Pro-XRP lawyer’s 11th hour, but is it?

Citing lawyer Deaton’s “11th-hour” phrase, interpreted as “the latest possible time before it is too late” on Google, it remains to be seen whether the court will finally give a ruling to end the case. FXStreet will bring you a timely, factual, and insightful update once it breaks.

Meanwhile, legal jargon such as lawsuits, class actions, appeals, and several references to the word court are continuously being mentioned in the crypto corridors. This comes amid a regulation-intensive season with the US SEC and cryptocurrency projects going at each other. The SEC’s charge against Binance and Coinbase exchanges was among the recent legal engagements, which saw several crypto tokens labeled securities.

In a recent development, the Winklevoss brothers, executives of Gemini, have sued Digital Currency Group (DCG) and CEO Barry Silbert on charges of masterminding fraud against creditors. While DCG put out the allegations as a publicity stunt founded upon baselessness, defamation, and falsehood, community members hold that the two companies should prioritize customers, make them whole, and then work out the legal tussle between themselves.

Citing former SEC official John Reed Stark in a Twitter post:

Hey, Gemini — how about using those 4.29% in fee proceeds to begin to pay back the 340,000 investors who lost $900M in Gemini Earn? Making right with your customers seems the more honorable course — and a lot more fruitful than admitting that because you failed to identify an obvious grift, your customers were left with nothing.