With the legal battle being one of the most important developments for the crypto market, Ripple could see its US Securities and Exchange Commission (SEC) lawsuit end as early as Friday. Indeed, one expert discussed the potential timeline and a resolution being met before the week is through.
Both sides have been facing off in a courtroom battle for years regarding the security status of XRP. The proceedings had ended more than 60 days ago, as final filings were made. Now, attorney Fred Rispoli has answered community intrigue, giving his best guess for a conclusion to arrive.
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Ripple Vs. SEC Resolution to Come This Week?
When discussing the ongoing Ripple and SEC lawsuit, Fred Rispoli said it could end sooner rather than later. “Earliest I can see it happening is Friday,” the attorney said in a post to X (formerly Twitter). However, he did note he is “still betting on end of July as my personal prediction.”
Rispoli’s prediction saw fellow attorney Bill Morgan ponder what legal developments need to happen before such a ruling can take place. “Isn’t there an outstanding motion before Judge Netburn that needs to be decided before Judge Torress can make the decision on penalties?” Morgan asked.
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“Yes, that motion is still outstanding,” Rispoli responded. “But there is no procedural requirement that it must be ruled on first.” Additionally, he noted that Torress could rule on the settlement, and negating the “need to rule on the expert/discovery issue.”
Earlier this year, Ripple CEO Brad Garlinghouse said he expected the lawsuit to go until the end of summer. He predicted a conclusion to be reached by August or September. However, that may have changed. These lawyers certainly are targeting a much sooner date.
A settlement should have a massive impact on XRP. The token has been steady for much of the year. Yet, it has dropped more than 12% over the last 30 days, according to CoinMarketCap. The market is expecting that to reverse if the ruling is in favor of Ripple.