How will the Ripple vs SEC case end is the question in the mind of any crypto enthusiast that has been following up with the turn of events in the lawsuit.
In the most recent turn of events, XRP lover Ashley Prosper, who recently filed a FOIA demand with the SEC in regards to its communication with JPMorgan about Ripple and XRP, has shared seven potential ways the SEC v. Ripple case could end.
What Will Be The Outcome OF the Duo’s Lawsuit
As per Prosper, the Duo in the case could consent to a settlement, consequently putting an end to the long-term fight in court. He stated that a settlement could occur out of the blue.
It is worth focusing on that there are no discussions in regard to a settlement. While Ripple is available to putting an end to the case through a settlement, the SEC has not uncovered any intention of employing a settlement modality.
Also, Prosper guessed that the SEC v. Ripple case could end with the two players accepting the remedy administered by Judge Analisa Torres. In this situation, he anticipated that the two wouldn’t generally pursue any decision to submit an appeal, including the synopsis judgment and remedy ruling. He mentioned the end of 2024 as the expected period for this situation to happen.
For the third expected result, Prosper asserts that any of the two parties or both could appeal to the Second Circuit after the remedies stage. According to him assuming the court concurs with Judge Torres’ decision and none of the parties goes to the Supreme Court, the case could end by 2025 – 2026.
Alternative Way For The Case To End
The fourth potential outcome featured by Prosper includes either Ripple, SEC or the two players appealing to the Second Circuit after the court decision with respect to the remedies. As per Prosper regardless of whether the Second Circuit concurs with Judge Torres’ choice and if any of the two take the case to the Supreme Court, the case could end by 2026 – 2027.
For the fifth likely result, the expert said the case could end with the parties accepting another decision from Judge Torres after the Second Circuit remands the case back to her. The expected course of events for this situation is somewhere in the range of 2025 and 2026.
Moreover, the 6th conceivable way the lawsuit could end includes either party appealing to the Second Circuit and the higher court disagreeing with Judge Torres and remanding the case.
Prosper said in the event that one of the duo requests the new request a new ruling by way of appeal, but the Second Circuit concurs with the court, the case will end in 2026 – 2027 in the event that the aggrieved party doesn’t take the case to the High Court.
Finally, in the seventh point, he stated that the case could end by 2027 – 2028 assuming the aggrieved takes the case to the High Court in the wake of losing on appeal.
Currently On The Lawsuit
Right now, the case is still in the remedies stage, which will decide the proper solution for Ripple’s Securities regulation infringement through its institutional sales of XRP.
The SEC as of late recorded a significant triumph against Ripple. As made known, Justice Sarah Netburn constrained Ripple to present its audited financial reports from 2022 to 2023 and post-complaint agreements the company used to sell XRP to institutional clients.
The company, which was at first given till February 12 to deliver the record, pleaded for a one-week expansion to the cutoff time.