Ripples Lawsuit Against SEC Approaches Conclusion Verdict Anticipated This July
Ripple vs. SEC Legal Battle Nearing Conclusion, July Verdict Expected
As the SEC vs. Ripple lawsuit approaches its conclusion, the final verdict is anticipated in July. The main point of contention now is the financial penalty for Ripple, with the SEC seeking billions and Ripple arguing for a much lower fine. Ripple’s rejection of a reduced penalty offer from the SEC could potentially impact the final verdict and the price of XRP.
With the legal battle between the SEC and Ripple coming to a close, legal experts are discussing the next steps. Unless the SEC introduces any unexpected developments, experts predict that the long-awaited final verdict could come in July.
Pro-XRP lawyer Fred Rispoli forecasts that Judge Torres might announce the decision on remedies by July, with potential dates as early as July 13 or by the end of the month. The SEC is pushing for a hefty penalty of $2 billion, while Ripple counters that a fine of no more than $10 million is more appropriate.
Rispoli also suggests that a pre-judgment settlement is improbable, though some unresolved issues may still be subject to negotiation. Notably, July 13 holds historical significance for Ripple, marking the anniversary of Judge Torres’ pivotal decision declaring XRP not a security. This landmark ruling caused XRP’s price to surge dramatically, showcasing the market’s sensitivity to legal outcomes.
The lawsuit has shifted from determining whether XRP is a security to debating the financial penalties Ripple must face. The SEC is seeking billions of dollars in damages from Ripple for what it claims were unregistered securities sales.
On the other hand, Ripple has argued that the SEC’s demands for damages are unreasonable and should be reduced to $10 million. The SEC has recently lowered its demand to $102 million, indicating a positive outcome for Ripple, but Ripple has turned down this request. The dispute over the damages is a critical phase in the lawsuit, as both sides maintain their legal arguments over the scale of financial penalties.
XRP is in a critical position after Ripple turned down the SEC’s offer to reduce its penalty to $102.6 million. This move could impact Ripple and the XRP token, which has already seen over $200 million in legal costs. Currently priced at $0.4830, XRP has risen 0.8% in 24 hours and 1.5% over the past week. With a 14% increase in trading volume to $862 million, XRP could see further gains if market sentiment remains positive. Only time will tell if July will prove to be another historic month for Ripple.