Ripple Might Reach A Settlement In XRP Lawsuit By April Or MayMarch 2, 2022 2:08 pm
In the long-standing Ripple vs. SEC lawsuit which has been a focus for much of the year, the result will have lasting impacts for not only Ripple, but also for the rest of the crypto industry as it will dictate how the SEC will treat all other cryptocurrencies from a regulatory perspective.
Many XRP investors are hoping for a conclusion which would then allow for XRP to be relisted again on major crypto exchanges such as Coinbase.
So far, attorneys have mentioned that the fastest way for the case to reach a conclusion is for a settlement to happen between the two parties.
Trending: President Trump Calls Out Gary Gensler!
Based on the fact that the next mediation will be hosted by Judge Sarah Netburn, it is likely that things will go in favor of Ripple as the judge has seen all the revealed documents on camera.
*#SEC Lawsuit Against #Ripple Could End in Settlement By April'22
*Judge Netburn knows exactly what's in emails & seen all relevant case docs in-camera, incl emails related to Hinman’s 2018 speech & Estabrook’s notes. #XRPCommunity #IOVhttps://t.co/iHnsSFMUyz
— Boncryp XRP (@boncryp) March 2, 2022
The court’s “biggest decision in the lawsuit“, according to XRP Holders’ attorney John Deaton, is round the corner. The DPP ruling, which the SEC is currently fighting by asking for a reconsideration, is expected to be confirmed and the notes and emails concerning Hinman’s 2018 speech should be handed over to Ripple.
The amount of evidence could be enough to corner the plaintiff and to provide leverage for an upcoming settlement between both parties.
Attorney Jeremy Hogan, Partner at the Hogan & Hogan law firm, has recently shared a document indicating a few rules that the SEC and Ripple will follow, including a settlement talk 14 days after the close of fact discovery.
The last settlement discussion, which happened a couple of months ago, wasn’t fruitful. The next most likely settlement time would be at mediation, said Hogan.
Potentially in favor of Ripple is the fact that Judge Sarah Netburn, who has seen all the documents in camera, will be hosting the mediation.
“She knows exactly what is in the emails, etc. and, if I am correct in that the SEC is the problem child here, that could make a big difference. A good mediator can really work miracles sometimes.”
According to attorney Jeremy Hogan, there will be a one hour settlement discussion between the SEC and Ripple as mentioned in the documents.
If both parties happen to accept the settlement, there is a possible chance of the case ending sometime in April or May this year.
With that being said, this was not the first time a settlement discussion was held as there was also one a few months ago.
The last settlement discussion did not not result in a settlement, but analysts are hoping for a different outcome this time due to Judge Netburn being the mediator.
If the judge can convince the SEC to enter the mediation program, this could hold bullish news for XRP investors and traders.
Ripple could expect settlement on XRP lawsuit in April –
Potentially in favor of Ripple is the fact that Judge Sarah Netburn, who has seen all the documents in camera, will be hosting the mediation. The SEC v. Ripple lawsuit has been widely followed for its precedent-settin… pic.twitter.com/7L7ZB7PlW9
— The Industry Spread (@industryspread) March 2, 2022
The cryptocurrency community has widely observed the lawsuit, which started in December 2020.
The case has resulted in several U.S.-based cryptocurrency exchanges halting support for Ripple (XRP), thus hurting investors in the process, as the coin’s value has dipped significantly ever since.
While an outcome could have been reached a few months after the suit started, the SEC is accused of using delaying tactics, which have seen the case drag on for months.
A few days ago, Ripple CEO responded to the SEC’s opposition to the production of the Estabrook’s note, a move he believed was another delay tactic employed by the agency.
A favorable settlement would see U.S.-based exchanges enable support for XRP leading to widespread adoption of the cryptocurrency and further boosting the coin’s price.
At the time of writing, XRP currently holds a price of $0.76 and boasts a total market capitalization of $36.5 billion with analysts expecting a bullish breakout soon.
According to @attorneyjeremy1, if all goes according to plan, we might see a settlement April/May or might go on until Summary Judgement in September.
My bet is on clarity for #XRP in September.
— allthemoney (@realLisaDaly) March 2, 2022
Join the conversation!
We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.