Ripple v. SEC: Expert Offers Timeline for Final Judgment
Blockchain company Ripple’s court battle with the US Securities and Exchange Commission (SEC) is far from over, and attorney Jeremy Hogan has shared his insights on when the final judgment could be reached and potential appeals that may follow.
Key points:
1. Judge Analisa Torres plans to schedule a jury trial for the Ripple v. SEC case in the second quarter of 2024.
2. Both parties have been ordered to submit blackout dates for trial by August 23, 2023.
3. Attorney Hogan predicts that the individual defendant’s trial will begin around May 2024 and the final judgment may not be available until late summer 2024 at the earliest.
4. Delays in the case could benefit Ripple and XRP, as an appeal by the SEC under Gary Gensler’s direction could result in a worse outcome for the SEC.
5. Ripple could potentially prolong the initial appeal until the next presidential election or even beyond.
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Attorney Stuart Alderoty suggests that the SEC does not currently have the right to appeal and is seeking permission to file an “interlocutory” appeal. Ripple will respond to this motion next week.
Closing thoughts:
While the legal battle continues, the price of XRP has experienced a decline of 2.82% in the last 24 hours and a decrease of 6.62% over the previous seven days. However, it has seen a 31.33% increase over the past month. Investors should note that investing in cryptocurrencies is speculative and involves risk.
Hot Take:
The Ripple v. SEC case is far from over, with a potential timeline for the final judgment extending into late summer 2024. Delays in the case could work in Ripple’s favor, while the SEC may face a worse outcome if it pursues an appeal. The battle between Ripple and the SEC continues to impact the price of XRP.
