As a seasoned crypto investor with a deep understanding of the market, I’ve closely followed the Ripple vs SEC lawsuit and its impact on XRP prices. The recent developments in this long-running case have caused quite a stir in the community, with many eagerly awaiting the final judgment in the remedies phase by Judge Analisa Torres.
The drawn-out Ripple vs SEC lawsuit is nearing its conclusion, with anticipation building among XRP holders and the crypto community for the final decision in the remedies phase from Judge Analisa Torres. Legal experts have shared their insights on potential settlement outcomes and Judge Torres’ possible orders during a recent discussion on the case anniversary.
Chances Of Settlement And Ruling Today In Ripple Vs SEC
Expert: Bill Morgan, a lawyer advocating for Ripple, has reiterated that the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC) is unlikely to result in a settlement. This assertion comes after several significant court rulings in favor of Ripple, most notably the judgment declaring the programmatic sale of XRP as not considered securities under the Howey Test. Meanwhile, in the SEC’s lawsuit against Binance, Judge Jackson upheld the Torres Doctrine, dismissing claims related to secondary sales of BNB tokens.
Despite numerous speculations suggesting that the SEC may choose not to appeal Judge Torres’ summary judgment from last year, he remains skeptical about this outcome.
As a researcher, I’ve come across an intriguing observation from lawyer Fred Rispoli regarding the potential timing of a ruling by Judge Torres. He mentioned that there’s a 5% chance the judge would intentionally rule on the anniversary of summary judgment. He usually files orders in the late morning or early afternoon (EST), so if a decision is to be made today, it’s likely to happen soon. However, Rispoli remains optimistic and expects an order by July.
Ripple Executives On Summary Judgement Anniversary
Brad Garlinghouse, CEO of Ripple, and Stuart Alderoty, the company’s chief legal officer, looked back on the anniversary of the summary judgment ruling that classified XRP as a non-security. According to Garlinghouse, this was an auspicious day for Ripple and the entire crypto sector, which is currently enduring an unjustified assault from the US Securities and Exchange Commission (SEC).
As a crypto investor, I’ve come across individuals who strongly advocate for transparency in their businesses. They even go as far as reporting those who fail to provide accurate information to the relevant authorities, leading to legal consequences. However, it’s baffling when I encounter someone who seemingly exempts themselves from this principle, including when dealing with the SEC.
In my perspective, the granting of summary judgment in this case marked a pivotal moment in legal history, indicating that XRP, on its own merit, does not classify as a security. Furthermore, this decision exposed the SEC’s overzealous actions and their apparent disregard for adhering to the law.
With reference to Gary Gensler’s statement: “Ignore the SEC’s persistent legal battles against Ripple and the sector – this tactic of the SEC is nearing its end. Ripple and the entire industry will thrive and grow, leaving behind Chair Gensler.”
XRP Price Rally Over 17% In A Week
The price of XRP has bounced back above the $0.50 mark following a robust rally of over 17% during this week. This surge places XRP atop the cryptocurrency market charts. Keen investors seized the chance to purchase at prices below $0.40, anticipating the outcome of the upcoming ruling in the Ripple vs SEC legal dispute.
In the last 24 hours, XRP‘s price has surged by more than 10%, reaching a current value of $0.51. The minimum and maximum prices during this period were $0.4545 and $0.5108 respectively. Notably, the trading volume has experienced a significant uptick of approximately 70%, implying heightened investor activity in the market. According to CoinGape Markets’ analysis, XRP could potentially advance towards the $5 mark.
Over the past 24 hours, the open interest for XRP futures contracts surged by over 19%, reaching a total of approximately 1.18 billion. A significant portion of this increase occurred within the last 4 hours, resulting in a noteworthy rise of around 13%. Given these developments, some market participants may consider taking profits on their positions.
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2024-07-13 09:58