- Fred Rispoli Senior Partner at Hold Law predicted that a decision will be made in the Ripple/SEC case before late July or early august.
- The ruling by Judge Torres may bring some clarity to XRP’s legal status in the US and its broader crypto market.
As the SEC’s long-awaited decision in Ripple vs. U.S. Securities and Exchange Commission nears, the XRP Community is at the forefront. Fred Rispoli Senior Partner at Hold Law shared insights on the potential outcome of the case via the X Platform.
Predicting a decision by the end of July/early august. Though Judge Torres may be poetic and announce it as early as July 13th. There is always the possibility of settling before trial, however I am putting that number at zero for now. The ruling does not address everything.
— Fred Rispoli (@freddyriz) June 12, 2024
Fred Raspoli is known for his strong support of Ripple and has set the expectation that a decision will be made by early or late August. According to Fred, Judge Torres dubbed as poetic might opt to make a ruling on July 13 due to its historical significance in the case. “I’m predicting we have a ruling by [the]end of July/early August. Although Judge Torres could get poetic and issue it on July 13,” He stated.
This ruling can be traced back to 13 July 2023. At that time, Judge Torres classified XRP as a “non-security”. This ruling was notable because XRP saw its price drop. Surge of 100% In a single-day, we highlight the impact of the lawsuit not only on the XRP coin but also the entire crypto ecosystem.
Fred Raspoli, in response to questions from the community about whether or not a settlement was likely, expressed his uncertainty given that both sides were/are deeply rooted in their respective positions. “The case can always settle beforehand but I put that at 0% now,” He stated. Fred emphasized that unresolved matters could be settled after the decision.
Analyst discusses the possibility of a Ripple settlement with SEC
Fred also mentioned that the SEC had an appeals process. Clarifying the issue, Rispoli The SEC does not have the right to appeal against claims. Ripple Executives Brad Garlinghouse, Chris Larsen and their claims relating to Institutional Sales were dismissed without prejudice. The SEC has the right to appeal any rulings related XRP.
It clarified all the possible options the SEC could pursue in the event of a negative ruling.
Fred Raspoli also addressed a procedural issue involving Judges Torres & Netburn. Fred Raspoli said that the two judges can be a team. work Together, they passed a simplified judgment highlighting the SEC’s use of Andrea Fox as an expert witness.
Rispoli believes that, if Torres can find a way around Fox’s testimony and pass the judgment, the entire process could be simplified. “Netburn and Torres can confer and determine that the issue before Netburn does not need to be ruled upon because Torres sidesteps the need to rely on that witness for her ruling,” Rispoli was cited.
Former Ripple executive Sean McBride The XRP/USD price could remain unchanged until the final judgment of Judge Torres. trading Are you looking for a way to improve your life? $0.4857 The term a 1.73% decline.
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Source: www.crypto-news-flash.com