TL; DR
- Investors remain focused as Ripple and the SEC lawsuit nears its end, thereby increasing investors' bullish sentiments on XRP.
- Judge Torres’ Final ruling is expected to be received this year, probably between July-September.
- Experts foresee a potential settlement of around $100 million, which could have far-reaching effects on XRP’s value and the broader crypto market.
Full Story on Ripple vs SEC Case
The legal dispute between Ripple and the SEC is heating up as Ripple questions expert testimony and raises concerns about timing and disclosure in detailed letters. One major issue is how the SEC is treating the "Fox Declaration" as standard evidence, which Ripple argues is expert testimony with significant legal implications.
Analysts suggest a possible settlement of around $100 million, which could greatly affect XRP's value and the broader cryptocurrency market. They're closely watching the timeline and assessing the chances of a final decision.
Ashley Prosper predicts a settlement and final ruling as the XRP community awaits the SEC's response in the remedies phase. They expect the SEC's final reply soon, followed by a wait until mid-to-late 2024 for Judge Torres's verdict.
Judge Torres's decision is anticipated by mid-to-late 2024, with potential appeals possibly extending the process until 2026. Despite efforts at reconciliation, Ripple and the SEC remain deadlocked, with the SEC yet to agree to Ripple's stance on XRP's classification.
Market watchers believe the SEC will persist in seeking disgorgement and preventing Ripple from selling XRP to institutional investors. The recent dispute over new expert evidence shows the SEC's determination to strengthen its case.
The next submissions are likely the final ones before Judge Analisa Torres decides penalties for Ripple's sales of XRP to institutional buyers. Successfully challenging Fox's declaration could limit the SEC's options for advocating specific penalties.
The conflict started in late 2020 when the SEC accused Ripple of violating securities laws through XRP sales. While there was a partial victory in July regarding XRP sales on exchanges, the disagreement over institutional sales continues, prolonging the legal battle.
Also, checkout what is XRP price prediction after the final judgment on the SEC's case
Source: Coinpedia
