SEC vs. Ripple lawsuit final verdict likely on this date according to experts
- SEC vs. Ripple lawsuit could likely end in the first week of July, according to an expert in the crypto community.
- Ripple proponents hope Judge Analisa Torres will rule within six months from the summary judgment briefings, between July 2 and 4.
- Attorney John Deaton argues that a settlement between the SEC and Ripple is unlikely.
The US financial regulator Securities and Exchange Commission’s lawsuit against payment giant Ripple is likely to end soon. Experts in the XRP community are speculating the date of the final verdict in the lawsuit and consider July 2 to 4 as the most likely dates for Judge Torres to announce her ruling.
Also read: Were Ripple and SEC about to settle in a “secret meeting”? Pro-XRP lawyer says this
SEC vs. Ripple final ruling likely on this date
The XRP army community of the altcoin’s holders are awaiting the final verdict in the SEC’s lawsuit against Ripple. The US financial regulators lawsuit against payment giant Ripple has dragged on since 2020.
The SEC argues that Ripple and its executives violated US Securities laws by engaging in the sale of XRP. The payment giant and its defense team are arguing the lack of a “fair notice” and that the said asset (XRP) is not a security.
An XRP community member Ashley Prosper commented on the date of the final verdict, analyzing the likely dates when Judge Analisa Torres would rule. From the expert’s list, two likely dates for the verdict in June are June 5, and June 21. Another likely date is six months from the filing of the summary judgment briefings, on July 2. The final date that the XRP Army member is watching is July 4.
#XRP #XRPCommunity
— Ashley PROSPER (@AshleyPROSPER1) May 1, 2023
Hoping Judge Torres rules any day now or a settlement is announced, but in the meantime i have set myself imagined timelines for the case to end. From my list in March only 2 remain. I have removed May 29th as that is Memorial day. So June 5th and June 21st...… https://t.co/UUrjf3lcKS
The expert has therefore predicted several dates in June and July for a likely end to the long legal battle between the SEC and the cross border payment remittance firm.
Settlement is less likely according to Ripple proponent John Deaton
Attorney John Deaton commented on the unconfirmed news of an undisclosed meeting between the SEC and Ripple, arguing that a settlement is not likely. The only time a settlement can occur is after Judge Torres’ ruling, if Ripple wins the case, the SEC can save face, according to Deaton.
Deaton therefore believes that a settlement is out of the question in the SEC’s case against XRP. Find out more about the unconfirmed meeting here.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
