NewsletterXRP Lawsuit: What Is Average Time Taken For Summary Judgements?
Crypto Market News: The Ripple lawsuit Summary Judgement is on top of the most anticipated developments in the year 2023 within the crypto market. On March 6, 2023, Judge Analisa Torres granted and denied motions from Ripple as well as the U.S. Securities and Exchange Commission (SEC). Since then, it has been more than 100 days as the wait for the Summary Judgement continues. The Ripple management have already expressed confidence that the final ruling could be out by the end of 2023. Yet, what are the chances that the judgement could come much earlier than the last quarter.
Also Read: Ripple Powering Top Indian Bank’s Digital Rupee Project
Meanwhile, the XRP price recovered very well since the beginning of 2023, clocking the $0.54 level at the end of March 2023. In recent times, the focus in the XRP lawsuit shifted to the Hinman speech linked documents, with many questions raised in the crypto community.
How Long Before XRP Lawsuit Judgement
While it has been about 110 days since the last ruling, the average time taken by federal judges to deliver summary judgements is about 166 days. According to an analysis on civil case processing in the federal courts by University of Denver,
“For all summary judgment motions, the mean time to rule was 166 days, but the variation across courts was even more pronounced: from a low of 63 days on average in the fastest court to a high of 254 days on average in the slowest court.”
Therefore, even if the average time taken is considered, the final ruling may have slight chances of delivery within the Q3 of 2023. In this context, a section of the crypto community feels the judge is taking too long to deliver the ruling. CryptoBull commented that the long wait is hurting the people’s confidence in the justice system.
Also Read: HBAR Crypto News: ChatGPT Plugin Live For Hedera Network
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