Attorney Suggests New End Date For XRP Lawsuit
XRP Lawsuit News: A delay in the long running U.S. Securities and Exchange Commission (SEC) Vs Ripple lawsuit summary judgment has kept the entire crypto industry waiting. A ruling over Ripple’s native crypto, XRP token’s nature is expected to clear a huge confusion over secondary sales.
Also Read: XRP Lawsuit Verdict Crucial For Major Cryptos Other than BTC
Pro XRP Lawyer Expects Ruling By August
Attorney Fred Rispoli, pro XRP lawyer predicted the possible end date of the US SEC vs Ripple lawsuit. The lawyer laid out the stats linked to the District Court, Analisa Torres’s motions for summary judgment. He highlighted that the judge has granted the motion for summary judgment to defendants in 37% of the case. While the ruling has been given to plaintiffs in 24% of the lawsuits.
As per Rispoli, Motion for the summary judgment has been announced in an average time of 249 days. However, 60% of the rulings came between a period of 146 to 330 days.
This suggests that a verdict would have come around May 21, 2023, which is 249 days from September 17, 2022 (the date of filing the initial motion for summary judgment). He added that if one considers 330 days criteria then the ruling would come around August 10, 2023. Read More XRP News Here…
Also Read: ADA, MATIC, ALGO Are Not “Securities”: XRP Lawyer
Ripple Case To Lead Major Crypto Towards Clarity?
Speculations around a potential ruling in the XRP lawsuit are on the rise since the court made the much debated Hinman speech documents available to the public. The docs suggested that then SEC director, Himan tried to make new regulations related to the industry which is a direct offense to the Congress.
XRP holders’ lawyer, John Deaton suggested that the ruling is getting more crucial day by day amid the US SEC’s crackdown on the crypto industry. It is expected that a good verdict for XRP, not Ripple would help the other tokens to fight the legal battle against the commission.
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