Fred Rispoli, a senior partner at Hold Law, has made a bold prediction regarding the Ripple-SEC case, anticipating a verdict by late July or early August. This decision, expected to be made by Judge Torres, could provide much-needed clarity on XRP’s regulatory status and have significant implications for the broader US cryptocurrency market.
The XRP community eagerly awaits the outcome of the Ripple vs. U.S. Securities and Exchange Commission (SEC) case, with Fred Rispoli sharing his insights on the potential outcomes through the X platform. He envisions a ruling by the end of July or early August, speculating that Judge Torres may choose to issue it on July 13 for symbolic reasons.
Notably, Judge Torres previously ruled in favor of Ripple on July 13, 2023, classifying XRP as a non-security. This decision resulted in a remarkable 100% surge in XRP’s price in just one day, underscoring the lawsuit’s profound impact on both the XRP token and the entire cryptocurrency landscape.
While discussing the possibility of a settlement, Fred Rispoli expressed skepticism, noting that both parties remain steadfast in their positions. However, he acknowledged that any unresolved issues could still be addressed post-decision.
In terms of potential appeals, Rispoli clarified that the SEC cannot appeal claims against Ripple executives Brad Garlinghouse and Chris Larsen regarding Institutional Sales, as these claims were dismissed with prejudice. Nonetheless, the SEC retains the option to appeal rulings related to XRP sales, highlighting the various avenues the SEC might pursue depending on the verdict.
Addressing a procedural complication involving Judges Torres and Netburn, Rispoli suggested that they could collaborate to streamline the judgment process, particularly regarding the SEC’s use of expert witness Andrea Fox. By potentially avoiding reliance on Fox’s testimony, Judge Torres could simplify the ruling process and deliver a final judgment.
Former Ripple executive Sean McBride cautioned that prices may remain stagnant until Judge Torres delivers her verdict, with the current XRP price trading at $0.4857, representing a 1.73% decline. This ongoing legal battle continues to captivate the cryptocurrency community, with stakeholders eagerly anticipating the forthcoming ruling’s implications.