Latest Update in the Ripple Vs SEC Case: Awaiting Decision from Federal Court
Motion to Maintain Appellate Procedures During Awaiting
In the latest developments of the lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), both parties have requested the Supreme Federal Court to maintain the appellate procedures while awaiting a ruling from the lower court. The SEC is expected to update the court on the case status by August 15. This move reflects the anticipation of a final decision, which could pave the way for the conclusion of the lawsuit or extend it further. Investors and the cryptocurrency community are closely monitoring this development to predict the price trend of XRP in the coming time.
Request to Reinitiate Market Share and Reduce Penalty
On June 12, Ripple and the SEC jointly submitted a motion to lift the injunction and reduce the penalty. This proposal is based on the renegotiations between both parties, which could yield positive outcomes or lead to further delays if rejected. The final decision lies with the lower court, which will directly impact the ability to resolve the dispute and pave the way for future spot XRP ETF approvals. Currently, the XRP market is maintaining around $2.22, up 1% on the day.
Likelihood of Ruling in the Coming Days
An analyst stated that the SEC recently filed a motion to reconsider to Judge Torres, who will provide feedback on the next decision. Typically, Judge Torres responds within 7 days, so the possibility of an early decision on Thursday or next week is entirely possible. Meanwhile, former SEC official Marc Fagel noted that building legal opinions cannot happen quickly, and the court still has many other cases awaiting resolution.
What Will Happen If the Case Returns to Judge Torres' Court?
Sherrie predicts that it is very unlikely for Judge Torres to deny the request for resubmission and maintain the order. However, the XRP community needs to be ready for possibilities, including if the motion is rejected, the case may return to her court, leading to much debate and speculation. Marc Fagel emphasized, 'I cannot predict accurately. It could go in any direction.'
If the court approves the motion, the lawsuit process could close quickly, contributing to an increase in XRP's price and promoting potential spot XRP ETF approvals. Currently, XRP is trading around $2.22, up 1% on the day, setting the stage for positive developments in the cryptocurrency community.
Source: https://tintucbitcoin.com/xrp-vs-sec-du-kien-ket-thuc-trong-2-thang/
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