The Ripple v SEC Case: Will a Resolution Be Reached Soon?
Legal experts predict that the Ripple v SEC case may finally reach a conclusion in the near future, impacting XRP’s price and the broader crypto market. The outcome could lead to penalties for Ripple but may not involve disgorgement.
Could the Ripple v SEC Case Reach a Resolution?
The legal battle between Ripple and the US Securities and Exchange Commission (SEC) has been ongoing for over three and a half years, with the trial phase beginning in April. While some believe the lawsuit could drag on for several more years, others anticipate a resolution sooner rather than later.
- American attorney Fred Rispoli suggests that a final judge ruling on the Ripple v SEC case could come as soon as July 31.
- Rispoli argues that the outcome may include a penalty of up to $25 million for Ripple, with no disgorgement involved.
“Judge rules all sales she deemed illegal are permanently enjoined, and rules all the ‘new’ contracts referenced by Ripple are not properly before her, so SEC will have to sue again if it believes these violate her ruling,” Rispoli added.
Another legal expert, Jeremy Hogan, also believes the legal battle could conclude this summer, with a possible $100 million settlement being discussed.
“I’m saying that the Judge will order 0 disgorgement but throws the SEC a bone and orders Ripple to pay a $100 million penalty,” Hogan stated.
The final resolution of the case is expected to have a significant impact on the price of XRP, potentially triggering a bull run for the asset and the wider crypto market.
The Latest Developments in the Ripple v SEC Case
In recent months, the Ripple v SEC case has seen several noteworthy updates, including a recent filing by Ripple regarding a decision related to crypto exchange Binance. Last week, Judge Amy Jackson dismissed the SEC’s claims that secondary market sales of Binance’s BNB token constituted securities transactions.
- Ripple’s legal counsel, Michael Kellogg, cited the decision regarding Binance as supporting evidence for their case that the alleged illegal sales of XRP do not warrant the harsh remedies sought by the SEC.
These developments indicate that Ripple is actively defending its position in the lawsuit, leveraging recent rulings to strengthen its case against the SEC.
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Hot Take: What Does the Future Hold for Ripple and XRP?
The resolution of the Ripple v SEC case could have far-reaching implications for Ripple, XRP, and the broader crypto market. As legal experts anticipate a potential conclusion in the near future, all eyes are on the outcome and its impact on XRP’s price and market sentiment.
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