XRP Lawsuit: Will SEC File For Reconsideration Of Summary Judgement?

XRP Lawsuit News: The ruling in the U.S. Securities and Exchange Commission vs Ripple lawsuit is awaited and is witnessing different kinds of speculative outcomes. However, both parties have filed the final briefs seeking summary judgment in their favor. Meanwhile, an attorney following the XRP lawsuit has revealed what might be the next move from the SEC.

SEC taking a loss in XRP Lawsuit?

Attorney Jeremy Hogan replied to a user’s query regarding the XRP lawsuit. A user asked whether SEC will file for reconsideration of the summary judgment before appealing it. Hogan stated that the commission could move for reconsideration ahead.

He added that however, he doubt the SEC would file an appeal after a loss. It looks too dangerous for now. Hogan stated that if the SEC loses on appeal then it will become the controlling case authority. This can lead to the SEC losing the case in the 2nd circuit.

Hogan believes that the SEC won’t risk this as it would be a smart action to take loose here. However, the commission can then focus on exchanges and fraud happening in the crypto market.

Earlier, Coingape reported that after failing to prevent and take action against the SBF and FTX, the XRP lawsuit has become more important than ever for the commission.

Ripple vs SEC settlement rumors?

As of now, Ripple and SEC have asked District Judge Analisa Torres not to send the XRP lawsuit to the trial and give a ruling in their favor. However, Cardano Founder Charles Hoskinson spread a rumor about a settlement between the parties around December 15, 2022.

Meanwhile, Hoskinson’s rumor about the Settlement was debunked by the FoxBussines Journalist, Eleanor Terrett. She mentioned that her source close to the XRP lawsuit has informed that there is no truth to this rumor.