The lawsuit between the US regulator SEC and blockchain company Ripple will likely end soon. Experts expect the final decision of the case to emerge on this date.
SEC-Ripple lawsuit will likely end on this date
Altcoin investors await the final decision in the SEC’s lawsuit against Ripple. The legal process, which started in December 2020, has been contentious for nearly two years. The SEC says that Ripple and its executives violated US Securities laws by selling XRP. Ripple’s defense team argues that there is no “fair notice” and that XRP is not a security.
Now experts are predicting the date of the final decision in the case. Ashley Prosper, an XRP community member, sees July 2-4 as the most likely dates when Judge Torres will announce his verdict…
#XRP #XRPCommunity
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— Ashley PROSPER (@AshleyPROSPER1) May 1, 2023
Ashley Prosper commented on the date of the final verdict, analyzing the likely dates on which Judge Analisa Torres will decide. From the list of experts, the two possible dates for decision in June are June 5 and June 21. Another possible date is July 2, six months after the summary decision briefings are submitted. Prosper expects the decision to come out no later than July 4th.
As a result, experts predict that the SEC and Ripple case could be finalized on several dates in June and July.
‘Deal unlikely’ between parties, according to Ripple advocate John Deaton
Attorney John Deaton commented on the unconfirmed news of an undisclosed meeting between the SEC and Ripple. Deaton argues that an agreement between the parties is unlikely. According to the lawyer, the only time a settlement will take place will start after Judge Torres’ decision, with the SEC’s move if Ripple wins the case. That’s why Deaton says there is no settlement in the SEC’s lawsuit against XRP.
Mysterious Ripple-SEC meeting
Meanwhile, rumors of an undisclosed meeting between the two are spreading like wildfire on Twitter. The meeting is expected to take place on 8 May. The speculation started with a viral tweet from Blockchain Daily citing an unverified source. It sparked a frenzy of hope and anticipation within the XRP community.
Not happening 🥸
— Eleanor Terrett (@EleanorTerrett) May 1, 2023
However, Fox Business reporter Eleanor Terrett, who has followed the case, explains that there will be no meeting since then. She is trying to end the rumors by expressing this in a tweet, she.
Had the meeting, which was the subject of rumors, had taken place, it could have had significant consequences in the ongoing legal battle between the two sides. As of now, the legal dispute between Ripple and the SEC is still ongoing. Despite the rumors that the meeting did not take place, the outcome of the case remains a very important development that should be followed in the coming months.
How about the XRP price?
The SEC-Ripple lawsuit that started in December 2020 caused a sharp drop in the XRP price. While XRP was delisted from major exchanges following the lawsuit, it failed to perform as expected in the 2021 bull. As Cryptokoin.com reported, XRP manages to maintain its market value with the interest of South Korean investments.
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