XRP Lawsuit: Ripple Expects Verdict By This Date, Here’s The Catch
XRP Lawsuit News: Amidst widespread crypto market anticipation, the summary judgement in Ripple lawsuit against the U.S. Securities and Exchange Commission (SEC) is likely to come out within the next few weeks. The company believes the ruling in SEC case could arrive within this month. However, the probability of the case not going in favor of XRP is high, given the likelihood of the case going under trial or Ripple losing it. Considering the altcoin’s popularity among traders, the summary judgement could cause unprecedented volatility as and when it comes.
Also Read: FTX News: Bankruptcy Lawyers Locate $2.2 Billion Worth of Crypto Assets In FTX Linked Wallets
Anticipation of the final ruling resulted in some slowdown in interested for the altcoin, evident from the dip in trading volumes for the cryptocurrency in recent months. With minimal market led deviations, the sixth ranked cryptocurrency has been maintaining a total market cap around $20 billion.
Ripple Vs SEC Case Summary Judgement In March 2023?
Stuart Alderoty, Ripple’s Chief Legal Officer, believes the verdict in the longstanding case is not too far away. However, Alderoty has a piece of advice for crypto businesses. Even in case the summary judgement favors Ripple, new and upcoming companies in the crypto space should get out of other countries, where there is clarity around laws for the industry. Alderoty said the XRP Vs SEC case summary judgement may be pronounced “as soon as the end of this month.”
Responding to Securities and Exchange Commission (SEC) Chair Gary Gensler’s recent comments that all coins except Bitcoin is an unregulated security, Alderoty suggested Gensler recuse himself from voting on any further enforcement case.
Also Read: U.S. SEC Chair Drops Another Bomb For Crypto Exchanges; Coinbase In Trouble?
Meanwhile, the XRP price took a dip along with all major tokens with news of many crypto companies isolating themselves of ties with Silvergate bank. If there is no further clarity on crypto companies finding a reliable banking partner in the US, there is possibility of further FUD in the community.
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