Ripple Secures Additional Time in Lawsuit Against SEC: Exploring Potential for a Positive Verdict!
Ripple has recently taken a strategic step in the federal court by requesting an extension of the response deadline. The motion aims to provide ample time for the preparation of necessary materials required by Ripple’s legal team, executives, and witnesses. This calculated move by Ripple could have significant implications for the ongoing lawsuit with the SEC.
In the legal world, even a small delay in responding to a brief can have serious consequences. Yassin Mobarak, the founder of Dizer Capital, sees Ripple’s request for an extension as part of a well-thought-out strategy to buy more time. Mobarak believes that time is a critical factor working against the SEC, and Ripple is using it to their advantage.
Mobarak suggests that Ripple’s request for additional time is not just a procedural move, but a deliberate plan to extend the lawsuit. He predicts that it could take 6 to 9 months before potential shifts influenced by the U.S. elections come into play. If the current SEC leader, Gary Gensler, steps down post-election, Mobarak believes that a crypto-friendly regulator could influence the court case. These strategic delays, according to Mobarak, subtly favor Ripple.
This window of opportunity for Ripple is tied to the potential departure of Gary Gensler as the acting chair of the SEC. If Gensler exits, the fate of the lawsuit could be left to his successor. Mobarak suggests that if a pro-crypto SEC comes into play, it could change the landscape for a settlement.
Mobarak’s perspective on Ripple’s repeated requests for time extensions has evolved. He now sees these motions in a new light, especially considering the background investigation of SEC managers. Mobarak asserts that time is the precious commodity on which the SEC depends the most. Any prolongation of the case could shift the order and responses. The court’s scheduling order indicates that the SEC will make a filing on April 29, 2024, which would be the last of the remedy stage motions. Fred Rispoli, who takes for XRP, predicts a ruling in early June. The legal strategies of both parties are now intertwined.
Overall, Ripple’s request for an extension of the response deadline could have significant implications for the lawsuit with the SEC. The potential shift in SEC leadership post-election and the strategic use of time could work in Ripple’s favor. Only time will tell how this legal battle unfolds.