- Justin Keener files an emergency request to present “decisive evidence” in favor of Ripple.
- Speculation rises over a swift resolution as the SEC holds a critical closed door meeting.
The ongoing Ripple vs SEC lawsuit took an unexpected turn when Justin Keener, a figure with prior SEC violations, filed an emergency request to present decisive evidence. This development comes as the crypto community anticipates a potential settlement following the SEC’s private meeting yesterday.
Fox Business reporter Eleanor Terrett first revealed the cryptic filing, which claims to contain evidence supporting Ripple and American liberty. “An odd filing just now in the @SECGov vs. @Ripple docket — an emergency request to “present decisive evidence in favor of the defendants and in favor of liberty for the American people.”
The letter, from a man named Justin W. Keener doesn’t make clear what the so-called ‘decisive evidence’ is or how it would benefit Ripple but hints it has something to do with physical investment contracts he’s been collecting. Looking further into Keener, it looks the SEC recently sued him for being an unregistered penny stock dealer for which a court has ordered him to pay over $10M,” she stated.
Questionable Evidence From Controversial Source
Keener’s filing immediately raised eyebrows due to his stained history with the SEC. The agency previously charged him with operating as an unregistered penny stock dealer, casting doubt on his credibility. While he claims his evidence relates to physical investment contracts he’s collected, he hasn’t provided specifics about how this would help Ripple’s case.
Legal experts note such last minute filings are unusual, especially from third parties not directly involved in the case. The timing is particularly curious as both Ripple and SEC have recently indicated they’re moving toward resolution. Some analysts speculate this could be an attempt to influence settlement negotiations or delay proceedings.
SEC Meeting Fuels Settlement Hopes
The filing coincided with heightened expectations for a resolution after the SEC’s yesterday’s closed-door meeting. Market observers like Steph is Crypto, believe commissioners may have discussed dropping their appeal in the XRP case, which would remove the security designation that has weighed on the cryptocurrency. “INSIDERS CLAIM #XRP IS ON THE AGENDA FOR THE APRIL 3 SEC CLOSED MEETING. SOURCES HINT AT MAJOR CLEARANCE MOVES BEHIND THE SCENES, “he stated. Such a decision could finally provide regulatory clarity for XRP after years of legal uncertainty.
Adding to the significance, the U.S. House will hold a crucial crypto regulation hearing on April 9. These developments suggest Washington may be moving toward clearer digital asset policies, potentially benefiting Ripple and the broader industry.
Community Reacts With Cautious Optimism
XRP investors have greeted these developments with cautious optimism. Many hope the SEC will finally conclude its long-running case against Ripple, which began in December 2020. A favorable resolution could remove a major overhang on XRP’s price and validate Ripple’s business model.
However, legal experts caution that Keener’s filing may complicate matters rather than help. Third-party interventions rarely succeed in established cases like this and the court will likely view this skeptically, especially given the source.
As the legal drama enters what may be its final chapter, all eyes remain on the SEC’s next move. Whether Keener’s mysterious evidence amounts to anything substantial or simply creates another distraction may soon become clear. For XRP holders and Ripple executives, the wait for resolution continues, but the end may finally be in sight. Today, XRP is trading at $2.09, up 2.38% in the last 24 hours.