Ripple CEO submits his request for dismissal of the case to court

#Ripple CEO #Brad #Garlinghouse filed a dismissal of the case in response to the SEC's amended complaint against Garlinghouse.

Ripple and the SEC appeared before a judge for the first time on February 22, where #Ripple announced that they would request a dismissal of the case. According to the statement made by Garlinghouse today , this request was submitted to the court in writing.

The 5-page petition addressed the SEC's allegations against Garlinghouse and claimed to be invalid. In the file, it was emphasized that Garlinghouse's XRP sales were carried out anonymously through an exchange, so they did not constitute any investment agreements with buyers. The SEC claimed that #Garlinghouse illegally made millions of dollars in profits by selling 357 million XRP.

The petition once again stated that the value of XRP does not correlate with Ripple's announcements and deals, but correlates with changes in other digital assets such as Bitcoin and Ether , which the SEC reports that it is not securities . It was also argued that the SEC exceeded its jurisdiction with the allegations contained in its amended complaint.

XRP has gained some movement following this development, and the coin is trading at $ 0.45 at 00.50.