Ripple Lawsuit May Drag On For Another YEAR

February 22, 2024 1:21 pm Comments

One popular analyst and voice within the XRP community says that the Ripple lawsuit is likely to end in June or August at the very earliest.

In reality, the lawsuit may drag on until next year, says Ashley Prosper.

Pundits, attorneys, and influencers have gone back and forth on whether or not a settlement is even possible in this case, with some believing that a settlement is imminent.

However, judging by comments made by both sides and the continued vitriol surrounding the lawsuit, it is doubtful that a settlement between the SEC and Ripple Labs is in the works.

Ashley Prosper writes: “To clear up some misconceptions. Tomorrow is the extended deadline in the Ripple v SEC case for remedies-related discovery.

We will not see anything Ripple has handed over until the SEC files its brief on March 13 and don’t expect much on that front. Also, Judge Torres’s final decision on this case is NOT due in April.

Final submissions for remedies are due April 29th, after which Judge Torres will make her decision.

I’m thinking July/August for that but she could take until next year if she wants to. The only way this case ends by April is with a settlement. I hope that helps.”

Daily Coin provided a timeline for the ongoing case:

Yesterday marked the deadline for the lawsuit’s discovery phase, where both parties gathered and exchanged relevant information. With this chapter closed, attention has shifted to these upcoming dates:

Mar 13: SEC files remedies-related brief.
Apr 12: Deadline for motions opposing remedies proposals.
Apr 29: Final remedies deadline, the court determines penalties for Ripple’s institutional sales.

Tony Edward of the Thinking Crypto Podcast noted the recent industry offensive against the SEC and anti-crypto lawmakers.

Edward stated: “I love that the crypto industry is going on the offensive against the SEC.

For years I was tweeting after the Ripple lawsuit for the industry to start doing this. I sent multiple tweets to Brian Armstrong at Coinbase and even asked Paul Grewal about this before the SEC sent the Wells notice to them.

Ripple took a partial victory, Grayscale took a massive victory, and the SEC is getting ripped by the Judges in different cases such as the DebtBox case. SAB121 is getting push back and much more..

The SEC and Gary Gensler are in a weakened state and I hope more crypto companies start filing lawsuits.”

ZY Crypto presented this price analysis for XRP:

XRP climbed 6.5% in the past week. The coin was trading for $0.5614 per coin at publication time, according to data from CoinGecko. With a market cap of $30.6 billion, XRP is now the sixth-largest crypto.

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