Ripple SEC Case: Lawyers On Potential Conclusion Timeline For XRP Lawsuit

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As a seasoned analyst with years of observing and navigating the cryptocurrency market, I’ve seen more than a few twists and turns that would put even the most dedicated M. Night Shyamalan fan to shame. The latest development in the Ripple SEC case is no exception, and it’s reminiscent of a never-ending game of cat and mouse.

As a crypto analyst, I’ve been closely following the Ripple SEC case – one of the most prominent and enduring legal disputes in our sector. In the latest twist, the US Securities and Exchange Commission (SEC) has filed an appeal notice, pushing the deadline for resolution further into the future. This turn of events suggests that this legal battle may persist for some time longer. The uncertainty surrounding the case has sparked discussions among XRP‘s supportive legal teams regarding a potential timeline for the lawsuit’s conclusion, which in turn is stirring market interest.

Lawyers Reveal Potential Conclusion Timeline For Ripple SEC Case

In simpler terms, the U.S. Securities and Exchange Commission (SEC) has announced they will appeal their case against Ripple Labs, prolonging the ongoing legal dispute within the cryptocurrency industry. This action has ignited market speculation, with lawyers who support Ripple discussing estimated timeframes for when the XRP lawsuit might end.

In the meantime, as per lawyer Fred Rispoli who supports XRP, it’s predicted that a decision from the 2nd Circuit Court won’t be made until around early 2026. However, Rispoli mentioned that if both parties decide to come to an agreement and settle, they can withdraw the appeal at any point. He pointed out the compulsory mediation program in appellate courts, which promotes early settlements, catching the attention of the market.

Additionally, well-known attorney Jeremy Hogan opines that the Securities and Exchange Commission (SEC) making an appeal in this case could be a significant blunder, potentially weakening their regulatory authority within the crypto sector. According to Hogan, it’s likely that the SEC will lose the appeal, and even if they manage to win, the outcome would only result in a financial penalty with no bearing on XRP‘s continued use by Ripple.

Currently, Ripple’s General Counsel Stuart Alderoty has criticized the SEC and hinted at a possible cross-appeal in the ongoing case. However, this situation seems to have left investors hesitant, as indicated by the drop in XRP‘s value today.

XRP Price Slips Despite Latest Positive Developments

The price of XRP has dropped approximately 12% as we speak and dipped below $0.52 due to the progress in the Ripple-SEC case. Interestingly, its trading volume spiked by 20%, reaching a staggering $3.25 billion. It’s worth mentioning that XRP had briefly climbed above $0.66 this week, with various favorable updates fueling investor interest in the market.

Example: Recently, Bitwise submitted an application for an XRP Exchange Traded Fund (ETF), causing excitement among traders. Moreover, the recent activation of Ripple transactions in Brazil through their partnership with Mercado has further ignited market curiosity.

In the world of cryptocurrencies, many believe that Ripple’s recent move into Brazil is a strategic response to challenges in the US market. Despite the positive expectations surrounding potential appeals and the possibility of a Ripple-led cross-appeal, experts predict a price increase for this crypto.

Currently, numerous cryptocurrency specialists are expressing positive views about Ripple’s native digital currency. Notably, one well-known expert foresees the XRP price reaching $3 by Christmas, a prediction that has garnered attention from investors, particularly in light of speculations surrounding a potential “Uptober” surge.

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2024-10-03 21:06