However, the judge denied a motion to have XRP owners as defendants
A judge in the Ripple versus SEC case has allowed six XRP holders with amicus status to participate in the lawsuit.
On Monday, U.S. District Judge Analisa Torres said six individual owners of XRP can be included in the case “amicus curiae”which essentially enables them to express their opinion, expertise and insight into the case.
“The court concludes that amici status strikes a fair balance between being able to assert their interests in this case and allowing the parties to maintain control of the litigation.” wrote the judge.
The group of six token holders will now comment on the case in which the US securities regulator has accused Ripple Labs and two of its top managers of illegally selling a token worth $ 1.3 billion .
An attorney representing the XRP owners said that “perform [of six] is not public “, and that all names and contact details of the person will only be published if the data subject agrees.
Judge Denies XRP Owners’ Request to Be Defendants
The judge’s decision comes several months after XRP owners file a cease and desist motion. The intervention request submitted in March stated that the SEC’s action against Ripple also affected the interests of cryptocurrency investors, so that they too had to be included as defendants.
In their argument, the XRP owners had said that the SEC’s indictment against Ripple had an impact on the value of XRP in the marketplace. It happened when several cryptocurrency exchanges and platforms stopped trading the token after filing the lawsuit in December.
While the judge admitted the token holder as a ‘amicus curiae’, she declined her motion to be accused.
According to Judge Torres, the appearance of XRP owners as defendants would force the SEC to bring proceedings against them. This would also affect the progress of the case and likely delay it even further to the detriment of Ripple and XRP investors, whose desire is to close the case as soon as possible.
The XRP price is up over 14% in the past week and is currently trading at $ 1.05.