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XRP Lawsuit: Lawyer Predicts Final Ruling By Next Week As Odds Improve
- Ripple Labs is hopeful that its legal battle with the US SEC could be nearly over as they seek an 'indicative ruling' to dissolve the injunction and reduce the civil penalty to $50 million.
- The parties are waiting for Judge Analisa Torres to make a ruling that would lead to the dissolution of the injunction and the acceptance of the reduced penalty, ultimately ending the litigation.
- Ripple's defence lawyer believes the supplemental letter could be decisive in the case, leading to a positive ruling soon.
- The settlement timeline involves obtaining the indicative ruling, a limited remand from the US Court of Appeals, dissolution of the injunction, payment of the penalty, and dismissal of appeals.
- The settlement agreement was signed in April and is currently pending approval with potential completion in the next few weeks.
- While awaiting the ruling, appeals are on hold, with parties preferring to conclude the matter in the district court if approved by Judge Torres.
- Judge Torres's previous ruling stated that XRP sales were not investment contracts, imposing a $125 million penalty now under challenge.
- If the indicative ruling is issued soon, the case could be remanded before August, allowing the parties to finalize the deal and end the litigation during the summer recess.
- XRP is currently trading at $2.16.
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