My people! What's up with this crypto gossip that won't let us sleep? 🌙 We were all blaming the SEC for the delay in the Ripple and XRP case, right? Well, hold on because legal expert Bill Morgan spilled the beans and it's not what we thought!
It turns out that the real 'guilty' party for this mess dragging on is... Ripple! 🤯 Yes, folks, just as you read. According to lawyer Morgan, Ripple is the one asking the court to lift the restriction on how it can sell its XRP. And the craziest part is that the SEC itself is cooperating and even helping in the process! What a level of entanglement! 🤝
Many of us thought this legal drama would be resolved quickly months ago. But no, the situation has extended because Ripple is determined to have those limitations lifted first. Someone asked Morgan if it was super necessary to lift that ban for Ripple to move forward, and he was clear: 'Ripple needs it, not XRP investors.' In other words, this move is primarily for Ripple to sell its XRP to institutions without hurdles. Pure greenback strategy! 💰
There was also a debate about whether the judge can lift the ban but keep the fine. And yes, the lawyer confirmed that the judge has all the power to do that. So stay alert!
Now, the XRP community is on edge due to all the ups and downs in this case. The next key date that was being discussed was August 15, 2025. But a former SEC official, Marc Fagel, came out to say that this date is not a deadline, the judge can decide at any moment! In hours, days, or weeks. So there's no need to panic! ⏳
Fagel also clarified a key point: Judge Torres had already ruled against Ripple last year, with a fine of $125 million and a permanent ban! The case remains open only because both Ripple and the SEC appealed and are now seeking changes. The ball is in their court, not the judge's!
According to Bill Morgan, we could have a decision sooner rather than later. And if it continues to drag on, there could be more appeals and the discussions for a deal could slow down.
The good news is that both parties have already signed an agreement, paused their appeals, and submitted all the necessary paperwork. Now, it all depends on Judge Torres to give her verdict. Once approved, Ripple will pay a fine of $50 million (much less than the initial $125M!), the ban will be lifted, and the appeals will be out! Let's cross our fingers, my people! 🤞$XRP
