- Ripple has been nearing the conclusion of its legal battle with the SEC.
- Ashley Prosper, a member of the XRP community, has predicted several likely dates for the verdict.
- Unconfirmed reports of a meeting between the SEC and Ripple have surfaced.
The Securities and Exchange Commission (SEC) of the United States is expected to reach a final verdict in its lawsuit against payment giant Ripple soon.
Members of the XRP community, who hold the altcoin, are eagerly awaiting the outcome and are speculating on when Judge Analisa Torres will announce her ruling, with many predicting July 2 to 4 as the most likely dates.
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This legal battle between the SEC vs. Ripple has been ongoing since 2020, with the regulator accusing Ripple and its executives of violating US Securities laws by selling XRP. However, Ripple’s defense team argues that there was a lack of “fair notice” and that XRP is not a security.
Verdict Looming: Ashley Prosper Predicts Dates for XRP Case
Ashley Prosper, a member of the XRP community, has analyzed the case and predicted several possible dates for the verdict in June and July, including June 5, June 21, and July 2 (six months from filing the summary judgment briefings) and July 4.
Despite unconfirmed reports of a meeting between the SEC and Ripple, attorney John Deaton, a proponent of Ripple, believes that a settlement is unlikely. He stated that a settlement can only occur after Judge Torres’ ruling and only if Ripple wins the case, allowing the SEC to save face.
Therefore, Deaton does not believe that a settlement is viable in the SEC’s case against XRP. Please refer to the source material for more information about the rumored meeting.
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While a settlement between the SEC and Ripple may seem unlikely, some legal experts argue it could still happen if the parties decide it’s in their best interest to avoid a prolonged legal battle.
On the Flipside
- Despite the XRP community’s anticipation of a favorable outcome in the SEC lawsuit, there is no guarantee that Judge Torres will rule in favor of Ripple.
- Regardless of the outcome of this case, the controversy surrounding the classification of XRP as a security or not will likely continue to be debated in the cryptocurrency industry.
Why You Should Care
The imminent verdict in the SEC’s lawsuit against Ripple has significant implications for the cryptocurrency market. The case outcome will determine how the US regulatory authorities will treat digital assets in the future and could set a precedent for other countries to follow.
FAQs
The XRP lawsuit brought by the SEC against Ripple has been ongoing since 2020. While there is no definitive end date, experts within the XRP community speculate that Judge Analisa Torres may announce the final verdict in June or July of 2023.
If the SEC wins against Ripple, it could have serious consequences for the future of XRP. The SEC may declare XRP to be a security, which could lead to a significant drop in the value of the altcoin and potentially result in Ripple being fined or ordered to pay damages.
It is possible that the value of XRP may go up if Ripple wins the lawsuit. However, this is not a guarantee, as there are a variety of factors that influence the price of cryptocurrencies. Additionally, it is important to remember that Ripple and XRP are not synonymous, and a victory for Ripple may not necessarily translate to a victory for XRP.
It is impossible to predict the exact price that XRP will reach after the lawsuit, as the outcome of the case is uncertain and many variables could influence the price of the altcoin. It is important for investors to carefully consider the risks and rewards associated with investing in XRP and to make informed decisions based on their circumstances.
To learn more about the reported discussions between Ripple and the SEC regarding a possible settlement, check out this article:
Ripple and SEC Rumoured to Discuss Possible Settlement
To learn more about Ripple’s monthly escrow return, read here:
