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- Fred Rispoli, Senior partner at Hold Law has predicted a verdict will be reached in the Ripple-SEC case by late July or early August.
- The decision by Judge Torres could bring clarity to XRP’s regulatory status and the broader US crypto market.
The XRP community is on the frontiers as the long-awaited ruling in the Ripple vs. U.S. Securities and Exchange Commission (SEC) nears. Fred Rispoli, Senior partner at Hold Law recently shared valuable insights into the case’s potential outcomes via the X platform.
I’m predicting we have a ruling by end of July/early August. Although Judge Torres could get poetic and issue it on July 13. The case can always settle beforehand but I put that at 0% now. And whatever is not addressed in the ruling can also be settled.
— Fred Rispoli (@freddyriz) June 12, 2024
Fred Raspoli, prominent for his support for Ripple set expectations for a ruling by the end of July or early 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.
Judge Torres’ ruling in favor of Ripple can be dated back to July 13 2023 when she classified XRP as a non-security. Noteworthy, this ruling saw XRP’s price witness a surge of 100% in a single day highlighting the lawsuit’s impact not just on the XRP token but the whole crypto landscape.
While responding to community queries about the likeliness of settling, Fred Raspoli expressed uncertainty considering both parties were/are deep-rooted in their positions. “The case can always settle beforehand but I put that at 0% now,” he stated. However, Fred highlighted that any unresolved issues could still be the subject of post-decision settlements.
Analyst Discusses Possibility of a Ripple v. SEC Settlement
Another critical factor that Fred mentioned was whether the SEC could appeal. Clarifying on the matter, Rispoli stated that the SEC cannot appeal claims against Ripple executives Brad Garlinghouse and Chris Larsen related to Institutional Sales, as these claims were dismissed with prejudice. Nevertheless, the SEC can appeal rulings related to XRP sales.
This clarified his position on all possible openings the SEC might pursue if the ruling went against them.
Another interesting hiccup that Fred addressed was the procedural wrinkle involving the roles of Judges Torres and Netburn. Fred Raspoli suggested that both judges could work together to pass a streamlined judgment pinpointing the SEC’s use of expert witness Andrea Fox.
According to Rispoli, if Judge Torres could find a way to circumvent relying on Fox’s testimony, this could simplify the ruling process with the judge passing the final judgment. “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 stated.
Former Ripple executive Sean McBride stated that prices might remain stagnant until Judge Torres passes her final verdict with the XRP price currently trading at $0.4857 representing a 1.73% decline.
