The XRP community is eagerly awaiting a ruling in the legal battle between Ripple Labs and the SEC. Speculations about the end date have been proven wrong so far, as Judge Analisa Torres is taking more time than expected. However, lawyer John E. Deaton, representing the XRP army, has made a new prediction. In a recent broadcast, he speculated that Judge Torres will issue a summary judgment on September 6, 2023. Deaton based his prediction on Torres’ previous rulings, noting that she has ruled at different speeds once the Daubert motions were decided. Despite the delay, Deaton believes the length of the litigation is within the usual range. Judge Torres may also delay the ruling due to the importance of the case and her heavy workload.
The delay in the ruling seems to have upset XRP investors, as the price is in a descending trend channel. It failed to break above the resistance at $0.50 in the higher time frames over the past two weeks. A breakout from the trend channel is crucial for a new run towards the resistance. Currently, XRP is testing the middle line of the trend channel, and a break below $0.4730 could lead to a further drop towards the lower end of the trend channel at $0.46.
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