Breaking News: XRP Price Surges 10% Amidst Ripple vs SEC Final Judgment Talks
The Ripple vs. SEC lawsuit is coming to a head as the community eagerly awaits Judge Analisa Torres’ final judgment in the remedies phase. Legal experts have discussed the possibility of a settlement and the timing of the final ruling.
Attorney Bill Morgan opines that a settlement is unlikely due to Ripple’s substantial legal victories, especially the ruling that the sale of XRP does not classify the cryptocurrency as a security. He also highlighted the strength of the Torres Doctrine on secondary sales, further reinforced by Judge Jackson’s dismissal of similar claims in the SEC vs Binance case.
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Morgan does not expect the SEC to appeal Judge Torres’ summary judgment, indicating the agency’s recognition of the current legal standing, which strengthens Ripple’s position and reduces the likelihood of an out-of-court settlement.
Another attorney, Fred Rispoli, suggests a slim 5% chance of Judge Torres issuing her decision on the anniversary of the summary judgment. However, he anticipates an order by the end of July, regardless of the ruling date.
Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty emphasized the significance of the ruling that affirms XRP is not a security. Following these legal speculations and positive developments, XRP experienced a significant price rally, surging over 17% in the past week and reclaiming the $0.50 mark. The current price stands at approximately $0.51, with notable increases in trading volumes and futures open interest.
Conclusion
In conclusion, minimal chances of a settlement are predicted based on legal insights as the Ripple vs SEC lawsuit approaches its conclusion. The market has responded positively, driving significant gains for XRP. This case has highlighted ongoing regulatory challenges while also marking significant progress in legal clarity for cryptocurrencies, with stakeholders closely monitoring potential precedents in future regulatory approaches.
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