XRP News: Lawyer Predicts July 31 Ruling in Ripple vs. SEC Lawsuit, Here’s What To Expect
The post XRP News: Lawyer Predicts July 31 Ruling in Ripple vs. SEC Lawsuit, Here’s What To Expect appeared first on Coinpedia Fintech News
The Ripple vs. SEC case has concluded, with two outcomes scorching the market: “Settlement” or “Resolution.” What will happen to the XRP community? We will wait and see!
However, Pro-XRP lawyer Fred Rispoli predicts a crucial ruling on July 31 in the Ripple vs. SEC lawsuit, specifically in the remedies phase. As the case nears its climax, the crypto community is intensely waiting for the final happy outcome, which holds significant implications for the entire crypto space.
Judge’s Deliberations
Judge Analisa Torres is currently deliberating on penalties and injunctions in the remedies phase of the lawsuit. Legal experts expect a final ruling soon, possibly in August, if not by the end of July. Given the high stakes involved, immediate appeals are anticipated following the court’s decision.
Speculations and Legal Insights
Fred Rispoli’s social media post reflects the growing impatience and speculation among the XRP community: “I’m running out of time to hit my 7/31 prediction for the remedies ruling! #XRP”.
However, the case has seen several motions, including those related to expert evidence, document unsealing, and final judgment, which await resolution.
In the same thread, Marc Fagel sarcastically asked Fred why all these secret meetings were happening, and Fred Rispoli replied that the SEC is struggling to gather enough Wendy’s gift cards. This implies that the SEC is having trouble closing the case and that we can expect it to end soon, if not in August, then in September.
Crypto Implications
Legal experts, including wealth advisor Mickle, view the SEC’s case against Ripple as one of its weakest, despite Ripple’s numerous wins. The possibility of both parties appealing previous decisions adds complexity to the legal battle. If the SEC does not appeal, it could weaken its position in other crypto-related cases. Conversely, Ripple might appeal the decision that its ODL sales are securities offerings, given their significant revenue from XRP ODL sales.
What to Expect?
The decision on penalties by Judge Torres should not overly concern Ripple and its supporters. Moreover, the wording of the injunction will be crucial, directly affecting Ripple’s business operations. The recent joint status response filed in the US District Court for the District of Columbia outlines the ongoing deliberations on penalties, potential injunctions, and the likelihood of appeals.
Having said that, this comprehensive approach ensures no loopholes before the final judgment is presented.
August or September for a resolution—what do you think will happen?
