The answer: Technically, both are "in the wrong". Both are breaking the law.
Someone mentioned how the driver of V1 would be prone to be prideful of what they're doing, and this is true and common. They will often say with sanctimonious pride, "I'm obeying the law/speed limit.", inferring that they're the 'good person' for doing so and the other person is a reprobate for wanting to be a law-breaker. What they generally don't know is that they are also breaking the law by not moving to the right. Most people are unaware that sign colors have legal meaning. White signs with black lettering are regulatory signs and carry the weight of law.
Link:
http://www.trafficsign.us/oldmutcd/1978/2b-regulatorysigns.pdf
Here's how it breaks down: Driver 1 is obeying the speed law, but is breaking the law regarding moving to the right for anyone who wants to pass. The speed of the other vehicle is completely irrelevant. Driver 2 wants to obey the passing law, but is breaking the speed law.
The passing law is almost never enforced, btw, but it is still technically the law.
In state where these laws are on the books, obviously, which is most states. Your mileage may vary where you live.