XRP Lawsuit Heats Up with Judge’s Ruling and Appeal in Focus

As the SEC vs Ripple nears a verdict, experts have offered insights on timelines, outcomes, and the possibility of appeals.

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  • XRP has eagerly awaited a verdict in the Ripple vs SEC lawsuit, with key figures predicting a decision soon.
  • Hopes for a settlement have slimmed as both sides appear prepared for the final verdict.
  • The possibility of an appeal from the SEC has added another layer of complexity to the case.

The XRP community is abuzz with anticipation as the long-running legal battle between Ripple Labs and the SEC nears its conclusion. With a pivotal judge’s decision expected soon, legal experts are offering insights into the potential timeline and outcomes of the case.

When Does the Remedies Ruling Come?

Fred Rispoli, a lawyer known for his support of Ripple’s position, has set the bar for community expectations by predicting a ruling by the end of July or early August. In a surprising twist, he even floated the possibility of Judge Analisa Torres issuing the decision on July 13 – a date holding historical significance in the case.

This specific date carries weight because, on July 13, 2023, Judge Torres delivered a summary judgment that significantly favored Ripple. The ruling classified XRP as a non-security, leading to a dramatic 100% surge in its price within a single day.

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Addressing hopes for a settlement, Rispoli expressed his doubts, stating that the chance currently sits at “0%.” This suggests that both Ripple and the SEC are firmly entrenched in their positions as they prepare for the final verdict. However, Rispoli did acknowledge that any unresolved issues could still be addressed through settlement discussions after the ruling.

Appeal on the Horizon?

The possibility of an appeal from the SEC is a key factor to consider. Rispoli clarified that the SEC cannot appeal anything related to its claims against Ripple executives regarding institutional sales, as those were dismissed permanently. However, the SEC retains the option to appeal decisions concerning programmatic sales of XRP.

An interesting procedural question emerged concerning the roles of Judges Sarah Netburn and Analisa Torres. Rispoli explained that if Judge Torres delivers a ruling that doesn’t rely on the testimony of a specific SEC expert witness, the two judges could potentially work together to bypass the need for a separate ruling from Judge Netburn on this matter.

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Rispoli suggests that this scenario would likely arise from a judgment favoring Ripple. It would streamline the process and potentially expedite the final outcome.

The wait for a resolution continues, with prominent legal figures like Jeremy Hogan echoing Rispoli’s July timeframe prediction. However, Hogan also acknowledged the possibility of an unexpected delay, reflecting the inherent uncertainty of the legal process.

On the Flipside

  • While legal experts predict a July ruling, unforeseen circumstances could still cause delays.
  • Although Rispoli views a settlement before the ruling as unlikely, unresolved issues after the verdict could still be addressed through negotiations between the parties.
  • Despite predictions, the inherent nature of the legal system means the final verdict may arrive outside the expected timeframe.

Why This Matters

The impending SEC verdict in the Ripple case holds immense weight for the entire crypto industry. Not only could it determine the fate of XRP, but it could also set a crucial legal precedent that clarifies the regulatory landscape for digital assets, impacting how crypto companies function and how investors approach the market.

If you’re interested in the price of XRP and how it’s been affected by the lawsuit between Ripple and the SEC, this article is a good read:
Ex-Ripple Director Explains Why XRP Has Slid Amid Good News

This article discusses Ripple’s investment in Asia and how it could lead to a regional rivalry in blockchain development:
Ripple Ramps XRP up as Payment Leader with $640M Asia Gambit

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Kyle Calvert

Kyle Calvert is a cryptocurrency news reporter for DailyCoin, specializing in Ripple, stablecoins, as well as price and market analysis news. Before his current role, Kyle worked as a student researcher in the cryptocurrency industry, gaining an understanding of how digital currencies work, their potential uses, and their impact on the economy and society. He completed his Masters and Honors degrees in Blockchain Technology within Esports and Business and Event management within Esports at Staffordshire University.