Ripple v. SEC court case update as of March 13, 2023

The cryptocurrency community is looking forward to the summary judgment in the legal case between Ripple and the Securities Exchange Commission (SEC), with the verdict speculated to come in by the end of March.

In the latest update, United States lawyer Jeremy Hogan, in a tweet on March 9, suggested that presiding judge Analisa Torres may have already decided whether XRP is a security.

Hogan, a pro-XRP lawyer, made the conclusion after pointing out that the judge cited the securities law case Marine Bank v. Weaver at least three times in her most recent ruling while discussing the perspective of XRP holders who bought the cryptocurrency. Hogan also shared an excerpt from the case, questioning whether what was sold was widely regarded as a security.

XRP is currently controlling a market cap of about $18.8 billion. It, therefore, remains to be seen how XRP will trade by the end of the week as the general market reacts to the U.S. banking sector fallout.

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