Attorney Unveils the Cause of the Delay in Ruling on Remedies

The ongoing XRP lawsuit has captured significant attention within the cryptocurrency market, leading to widespread speculation regarding the potential resolution of the case. However, the prolonged delay in the ruling process has given rise to discussions and concerns within the XRP community, particularly regarding the timeline for Judge Torres’s decision in the Ripple Vs. SEC lawsuit. Pro-XRP lawyer Fred Rispoli has offered insights into the potential reasons behind the delay.

Dizer Capital Stance

Yassin Mobarak, founder of Dizer Capital and a prominent figure in the crypto space, expressed frustration over the extended duration of the remedies phase in the XRP lawsuit. He highlighted that most legal aspects have already been addressed, making the protracted remedy ruling appear unusual.

I find it strange that the remedy phase in the Ripple vs. SEC case is taking so much time to conclude. Most of the legal items in this case have been ruled on already. The remedy ruling should not be taking this long.@CherryEmpress21 @freddyriz @attorneyjeremy1
— Yassin Mobarak (@Dizer_YM) August 7, 2024

These sentiments reflect the growing impatience and apprehension within the XRP community as they eagerly await the outcome of the case. Many individuals are questioning the cause of the delay and its implications for the future of XRP within the cryptocurrency landscape.

Adding to the discourse, pro-XRP lawyer Fred Rispoli suggested that the delay could be attributed to a combination of benign factors such as logistical issues including vacations and a heavy caseload, as well as more intricate legal considerations.

Moreover, Rispoli mentioned that Judges Torres and Netburn are likely to have already deliberated on an outstanding expert issue, which reportedly will not affect Torres’s ruling. These comments have further fuelled speculation about the reasons behind the delay, leaving the XRP community eagerly anticipating the case’s resolution.

It should not take this long. There are benign factors (vacations, huge case log) and potentially ominous ones. It's fairly obvious by now that Torres and Netburn spoke about the expert issue still pending before Netburn and that it will be irrelevant to Torres' ruling. https://t.co/i6jmKSOrIl
— Fred Rispoli (@freddyriz) August 7, 2024

Overview of Settlement Rumours

Amidst these developments, there have been rumours circulating about a potential settlement in the XRP lawsuit following a closed-door meeting of the U.S. SEC. However, several market experts have refuted claims of an imminent settlement in the ongoing Ripple Vs. SEC case, emphasizing that the lawsuit will proceed to a formal conclusion.

On the other hand, Ripple’s recent XRP Q2 market update conveyed the firm’s confidence in receiving a fair ruling from Judge Torres in the remedies phase. Furthermore, it reiterated that the fundamental classification of XRP’s security status will remain unchanged, irrespective of the lawsuit’s outcome.

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Kayode Oke Michael

Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.

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