In the legal battle between Ripple and the US Securities and Exchange Commission (SEC), the XRP army remains on edge as it awaits a possible ruling on measures and penalties. The legal proceedings concluded 61 days ago with the final regular filings. Speculation within the community is now running high, with members like @CRYPTO_hitman yesterday wondering if a decision could come as soon as this week, with prominent pro-XRP lawyers in the community tagged, including Jeremy Hogan, Bill Morgan, John E. Deaton, James “MetaLawMan” Murphy, and Fred Rispoli.
XRP Lawsuit May End Friday
Rispoli She replied “Despite this speculation, one commentator made an interesting prediction, saying: ‘The earliest I can imagine this happening is Friday, the day before the anniversary of the summary judgment. I’m still betting on the end of July as my personal prediction.’”
Another pro-XRP lawyer, Bill Morgan, joined the conversation and expanded it to include procedural details that could act as a barrier to a final ruling on measures and sanctions. Morgan asked his colleague about a pending motion that Judge Sarah Netburn must rule on before Judge Analisa Torres can make a decision on sanctions and measures.
“Isn’t there a motion pending before Judge Netburn that must first be decided before Judge Torres can make a decision on sanctions?” Morgan commented. It has been clarified.“Yes, that motion is still pending but there is no procedural requirement that it be ruled on first. The two judges can confer and Torres can tell Netburn that her ruling does not justify any need for a ruling on the expert/discovery issue.” Morgan acknowledged Rispoli’s clarification by simply saying, “Thanks, Fred.”
The legal letter follows recent speculation from Rispoli, as reported by Bitcoinist , who suggested July 31 as a possible ruling date, though he noted that the decision could also come as early as July 13, in line with the 2023 anniversary of the pivotal summary judgment. Judge Torres’ previous ruling held that XRP was not a security, a major victory for Ripple in its battle against the SEC.
However, as Morgan noted, there is still a motion complicating the proceedings. On April 29, Ripple filed a “motion to strike” new expert materials submitted by the SEC, which include statements and exhibits from new expert witness Andrea Fox.
The outcome of Judge Netburn’s ruling on this motion could be decisive. If Judge Netburn rules in Ripple’s favor on this motion, it could allow Judge Torres to proceed without further rulings on this particular issue. However, as Rispoli speculated, this should not be a barrier to a final ruling on the measures and penalties in the case. Thus, a ruling could come as early as this week.
The price of XRP does not reflect any expectations or hype surrounding these speculations. At the time of writing, XRP was trading at $0.43.
Featured image created using DALL E, chart from TradingView.com
