As a researcher, I’ve been closely following the Ripple vs. SEC lawsuit and the ongoing speculation within the XRP community regarding the potential ruling on remedies and penalties. The anticipation is palpable, with some members of the community believing that a decision might come as soon as this week.
In the ongoing legal dispute between Ripple and the US Securities and Exchange Commission (SEC), XRP supporters are keeping a close watch as they anticipate news on possible remedies and consequences. The formal filing stage of the case ended approximately 61 days ago. Amidst heightened anticipation within the community, some members like @CRYPTO_hitman have recently mused if a decision could be announced as early as this week, engaging prominent XRP-supporting lawyers such as Jeremy Hogan, Bill Morgan, John E. Deaton, James “MetaLawMan” Murphy, and Fred Rispoli in the conversation.
XRP Lawsuit Could End As Soon As Friday
In response to the rumors, Rispoli made an attention-grabbing forecast, declaring, “I believe the earliest it could occur is this coming Friday, just a day prior to the anniversary of the summary judgment ruling. Personally, I’m putting my money on a finish towards the end of July.”
As a researcher delving into the XRP case, I’ve come across another legal expert, Bill Morgan, who added valuable insights to the ongoing discussion regarding potential penalties and remedies. He brought up procedural matters that could potentially hinder a definitive ruling on these issues. Specifically, Morgan questioned his colleague about an outstanding motion that Judge Sarah Netburn needs to rule on before Judge Analisa Torres can make a decision concerning penalties and remedies.
“Morgan pointed out, ‘Aren’t there any significant motions pending before Judge Netburn that should be resolved prior to Judge Torres ruling on penalties?’ Rispoli explained, ‘Indeed, that motion is still open-ended. However, it’s not compulsory for Judge Netburn to rule first. The two judges could consult and Judge Torres might inform Judge Netburn that her decision renders the expert/discovery issue irrelevant.’ Morgan expressed appreciation with a brief ‘Thank you, Fred.'”
According to Rispoli’s legal analysis, as covered by Bitcoinist, he foresaw a possible decision date of July 31 for the upcoming ruling. However, he cautioned that the judgment could also surface as early as July 13, coinciding with the anniversary of an influential 2023 summary judgment. In an earlier court case presided over by Judge Torres, XRP was declared not to be classified as a security – a significant triumph for Ripple in its ongoing dispute with the SEC.
Despite Morgan’s remark, it’s important to note that there is still a complication in the process. On the 29th of April, Ripple submitted a “Motion to Strike” against new expert materials introduced by the SEC. These materials consist of declarations and exhibits from Andrea Fox, who was presented as an expert witness.
As a researcher studying this legal case, I can tell you that Judge Netburn’s decision on the ongoing motion could hold significant implications. If he rules in favor of Ripple, it might pave the way for Judge Torres to proceed without requiring additional rulings on this specific issue. Nevertheless, as Rispoli has pointed out, such a ruling would not necessarily delay the final determination on remedies and penalties in the case. Consequently, we could potentially see a judgment being handed down as soon as this week.
At the current moment, the price of XRP doesn’t mirror any excitement or buzz surrounding speculation about it. The coin was priced at $0.43 during the press check.
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2024-07-09 14:41