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XRP Lawsuit: lawyer John Deaton and Ripple CTO David Schwartz expect summary judgment by Judge Torres before or in September as the XRP community becoming impatient over the delay in the Ripple vs US SEC lawsuit. Some even claim that there’s something strange with the lawsuit as it’s already been seven months now without the ruling.
XRP Lawyer Deaton And Ripple CTO On Summary Judgment
John Deaton on July 11 revealed some facts on how much Judge Analisa Torres unusually takes for ruling on court cases. XRP community awaits Judge Torres’ decision as Ripple and US SEC reply briefs were filed in December. While it has been 7 months, Ripple isn’t the only case for Judge Torres. He said Thor Equities case’s reply briefs were also filed in December and Judge Torres hasn’t ruled yet.
However, he revealed that Judge Torres took 7 months in Quiller Inc vs US to announce her decision, and 6 months in the Fitzgerald case and several other cases. Deaton believes there’s a significant chance of ruling this month as she has taken an equal of time.
Also Read: Ripple Bags Rare Award for its Role in CBDC Innovation
Ripple CTO David Schwartz replied to Deaton, saying he believes a ruling on summary judgment can happen at the end of September.
“I know waiting is annoying and we’d all love to have a ruling on summary judgment motions as soon as possible, but I wouldn’t think anything was wrong, unusual, or strange until at least the end of September.”
Deaton says he agrees with Ripple CTO David Schwartz as Judge Torres’ decision has never been pending over 9 months. Deaton said he didn’t review every case, but “didn’t find any that were longer than 9 months (although one was slightly longer than 8 months).”
XRP price jumped 2% in the last 24 hours, with the price currently trading at $0.47. The 24-hour low and high are $0.466 and $0.480, respectively. Furthermore, the trading volume has increased by 75% in the last 24 hours, indicating an interest among traders. CoinGape Markets analysis predicts a bull flag pattern breakout above $0.5 in next few days.
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