- Ripple Vs SEC News: Experts claim the long-running XRP lawsuit is to conclude really soon as Judge Torres’ final ruling could come this year, most probably in September.
- The Securities and Exchange Commission (SEC) is to submit its final reply in the remedies phase today, May 6. Ripple objected to the SEC’s nearly $2 billion in disgorgement, prejudgment interest, and civil penalty. Ripple argues the company is only liable to a penalty not exceeding $10 million.
- Ashley Prosper, an expert on the XRP lawsuit, said the SEC’s final reply in the remedies phase is crucial for the Ripple v. SEC case as parties could confer on potential penalties for XRP institutional sales and reveal terms of potential settlement.
Experts predict a settlement in the Ripple Vs SEC lawsuit and expect Judge Torres’ final ruling in September. This could lead to a rally in XRP price.
Judge Torres’ Final Ruling Expected in September
According to experts, Judge Torres’ final ruling in the Ripple Vs SEC lawsuit could come this year, most likely in September. This comes as Ripple and the SEC are in the remedies phase, with Ripple objecting to the SEC’s nearly $2 billion in disgorgement, prejudgment interest, and civil penalty. Ripple argues the company is only liable to a penalty not exceeding $10 million.
Settlement Likely in Ripple Vs SEC Lawsuit
Ashley Prosper, an expert on the XRP lawsuit, said the SEC’s final reply in the remedies phase is crucial for the Ripple v. SEC case. Parties could confer on potential penalties for XRP institutional sales and reveal terms of potential settlement. This could extend the lawsuit to June. However, a final ruling is expected to come substantially quicker than the summary judgment rulings, within 60 to 90 days after the last brief.
Appeals Expected from Both Sides
Ripple and the SEC are most likely to appeal lost motions and rulings in the XRP lawsuit. The SEC to appeal Judge Torres’ summary judgment ruling on XRP programmatic sales. Whereas, Ripple will appeal the motions SEC won in the lawsuit. Ripple could also file an appeal if the penalties are ruled to be higher and not in terms of Ripple’s arguments.
XRP Price Could Rally
The SEC lawsuit has cut off XRP price rally as the price continued to move near $0.5. A final decision in the Ripple Vs SEC is a major catalyst for XRP price rallying to $1 at least, with support from bull market. XRP price trades over $0.53, up nearly 1% in the last 24 hours and 5% in a week. The 24-hour high is $0.547, with trading volume rising more than 76% in the past 24 hours.
Conclusion
Experts predict a settlement in the Ripple Vs SEC lawsuit and expect Judge Torres’ final ruling in September. This could lead to a rally in XRP price. However, both Ripple and the SEC are expected to appeal lost motions and rulings in the lawsuit. The outcome of this lawsuit could have significant implications for the cryptocurrency industry.
