Expert Forecasts Final Ruling on Ripple vs SEC Lawsuit by the End of 2024
The battle between Ripple and the SEC is intensifying as Ripple challenges expert testimony and raises concerns about timing and disclosure. A major point of contention is the SEC’s classification of the “Fox Declaration” as standard evidence, which Ripple argues has significant legal implications.
Experts predict that a settlement of around $100 million is possible, which could have a significant impact on the value of XRP and the wider crypto market. Analysts are closely examining the timeline and assessing the likelihood of a final ruling.
Although the outcome is uncertain, Ashley Prosper has identified a crucial milestone in the Ripple vs. SEC lawsuit. The analyst predicts that a settlement and final verdict will come after the SEC’s reply in the remedies phase, which is expected to be submitted the following day. After that, there will likely be a waiting period until Judge Torres delivers her final ruling, which could occur between July and September.
Ashley also speculates about the possibility of appeals after the ruling, suggesting that the process may not be as lengthy as initially anticipated. With the potential for a settlement at any moment, the stage is set for a dramatic resolution.
Judge Torres’s decision is expected by mid-to-late 2024, with the SEC’s response due by May 6, 2024. However, the possibility of appeals could extend the process until 2026. Despite attempts at reconciliation, Ripple and the SEC remain deadlocked, with the SEC refusing to accept Ripple’s position on the classification of XRP.
Market observers believe that the SEC will continue to seek disgorgement and prevent Ripple from selling XRP to institutional investors. The recent dispute over new expert evidence highlights the SEC’s determination to strengthen its case.
These upcoming submissions are likely to be the final ones before Judge Torres determines the penalties for Ripple’s sales of XRP to institutional buyers. If Ripple successfully challenges the “Fox Declaration,” it could limit the SEC’s options for advocating certain penalties.
The conflict between Ripple and the SEC began in late 2020 when the SEC accused Ripple of violating securities laws through XRP sales. While there was a partial victory in July regarding XRP sales on exchanges, the dispute over institutional sales persists, prolonging the legal battle.
Also, keep an eye out for whales moving 28 million XRP before the May 6th deadline for Ripple vs. SEC. The plot is thickening, and the showdown is imminent!