Ripple Showdown with SEC: XRP 500M Volume Unlocked in Anticipation of Final Ruling
The recent release of a large amount of XRP tokens from escrow has sparked speculation about a potential settlement between Ripple and the SEC in their ongoing legal battle. This unlock led to an 8% decrease in XRP price and breached the $0.6 support level.
Legal Experts Stance on Ripple-SEC
The SEC is seeking a $1 billion penalty from Ripple for alleged violations, while Ripple is open to settling for no more than $10 million. Although some believe a settlement is unlikely, others suggest that if it happens, it would be a compromise.
Ex-SEC lawyer Marc Fagel has dismissed rumours of an XRP SEC meeting and predicted that a settlement is improbable. He foresees appeals from both sides after the ruling and believes that the SEC’s substantial penalty may not be fulfilled.
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Possible Lawsuit Remedies After Showdown
Legal experts anticipate a ruling in the XRP lawsuit remedies phase, likely in August, amidst heightened anticipation. While some view the SEC’s case against Ripple as weak, the prospect of appeals from both parties complicates the resolution of the case.
Moreover, the political climate, including a Democrat shift toward pro-crypto policies, could influence the likelihood of an appeal. Despite potential political influences, appeals from both parties are still seen as likely based solely on legal considerations.
Ripple may consider appealing based on distinctions between institutional sales and sales to On-Demand Liquidity (ODL) customers. On the other hand, the SEC’s potential appeal signifies its belief in Judge’s error and arguable grounds for appeal.
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