- As the XRP community anticipates a resolution in the ongoing Ripple Labs vs. US Securities and Exchange Commission (SEC) lawsuit, new insights have emerged from legal experts.
- Fred Rispoli, a senior managing partner at Hold Law, has shared his predictions on the anticipated timeline and possible outcomes of the case.
- Rispoli engaged with the community on social media, providing a detailed analysis and speculation as the case approaches its crucial phase.
Discover the latest insights on Ripple Labs’ lawsuit with the SEC, including potential rulings and key legal perspectives.
XRP Lawsuit: Expected Timing of the Remedies Ruling
Fred Rispoli has set expectations for the Ripple community by forecasting a ruling on the case by the end of July or early August. He highlighted the symbolic significance of July 13, suggesting that Judge Analisa Torres might choose that date for her decision.
Rispoli commented, “I predict we will see a ruling by the end of July or early August. There’s a chance Judge Torres might choose July 13, adding a poetic touch given its importance in the case.” On July 13, 2023, Judge Torres handed down a crucial summary judgment, declaring XRP as a non-security. This decision led to a substantial price surge for XRP, reflecting its immediate impact on market sentiment.
When questioned about the possibility of a settlement, Rispoli remained doubtful, stating, “While a pre-ruling settlement is always possible, I see it as having a 0% likelihood now.” This statement underscores the firm stance both parties are taking as the litigation moves towards a conclusion. Rispoli added that issues unresolved in the upcoming ruling might still be open for settlement discussions afterward.
In response to inquiries about potential appeals by the SEC, Rispoli clarified that they cannot appeal claims against Brad Garlinghouse and Chris Larsen related to Institutional Sales, as these claims were dismissed with prejudice. However, the SEC retains the option to appeal decisions pertaining to Programmatic Sales of XRP.
Judicial Coordination and Impact on Rulings
A procedural question regarding the roles of Judge Sarah Netburn and Judge Analisa Torres was addressed by Rispoli. He explained that both judges could potentially coordinate to streamline the decision-making process. If Judge Torres finds a way to sidestep the use of expert testimony from Andrea Fox, this could simplify proceedings and expedite the final judgment.
Rispoli elaborated, “Netburn and Torres might confer and decide that the issue before Netburn regarding the SEC’s extra expert doesn’t need a separate ruling if Torres can avoid relying on that testimony for her decision. This scenario is more likely if the ruling favors Ripple.”
Another legal expert, Jeremy Hogan, echoed Rispoli’s prediction of a July ruling but expressed caution about potential delays, suggesting a ruling might not arrive until September.
Conclusion
As the XRP lawsuit between Ripple Labs and the SEC approaches a critical juncture, the community remains vigilant for upcoming legal developments. Insights from legal experts like Fred Rispoli and Jeremy Hogan have heightened anticipation, although the final outcomes remain uncertain. Investors and stakeholders should stay informed as the case progresses, recognizing the substantial implications for the broader cryptocurrency market.
