XRP News | Ripple vs SEC: Anticipation Builds as Lawsuit Nears Conclusion

XRP News | Ripple vs SEC: Anticipation Builds as Lawsuit Nears Conclusion

XRP News – The long-running Ripple vs SEC lawsuit is approaching its final phase, with XRP holders and the broader crypto community eagerly awaiting the final judgment from Judge Analisa Torres. Legal experts have shared their perspectives on the likelihood of a settlement and a potential ruling on the anniversary of the summary judgment.

Settlement Prospects and Potential Ruling Today

Pro-XRP attorney Bill Morgan emphasized that a settlement in the Ripple vs SEC case is unlikely. Ripple has already secured several significant victories, including a landmark ruling that the programmatic sale of XRP does not classify as securities. The strength of Judge Torres’ doctrine on secondary sales of crypto was underscored by Judge Jackson’s dismissal of claims regarding the secondary sales of BNB in the SEC vs. Binance case.

Morgan also doubts that the SEC will appeal Judge Torres’ summary judgment, despite widespread speculation to the contrary.

Regarding the possibility of a ruling today, lawyer Fred Rispoli suggested a 5% chance that Judge Torres might issue her ruling on the anniversary of the summary judgment. He noted that her orders typically come late morning or early afternoon (EST). Rispoli remains hopeful for a decision this July.

Ripple Executives Reflect on Summary Judgment Anniversary

Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty marked the anniversary of the summary judgment, a pivotal ruling that granted XRP non-security status. Garlinghouse called it a significant day for Ripple and the entire crypto industry, which he believes is under unjust attack by the U.S. SEC.

“He runs an agency that espouses the value of transparency. In fact, he sends people to jail for not providing accurate transparency… yet, somehow, he believes transparency doesn’t apply to him and this SEC,” Garlinghouse remarked.

Alderoty hailed the summary judgment in the Ripple vs SEC lawsuit as a watershed moment that legally established XRP is not a security. He criticized the SEC’s overreach and lack of adherence to the law.

Regarding SEC Chair Gary Gensler, Alderoty commented, “Don’t be distracted by the SEC’s continued efforts to mire Ripple and the industry in the litigation trenches – that runway is running out for the SEC. Ripple and the entire industry has and will emerge stronger, long after Chair Gensler is gone.”

XRP Price Surge Amid Lawsuit Developments

XRP’s price has surged over 17% this week, reclaiming the $0.50 psychological level and leading the crypto market. Investors took advantage of the dip below $0.40 in anticipation of a key ruling in the Ripple vs. SEC lawsuit.

In the past 24 hours, XRP’s price has jumped more than 10%, currently trading at $0.51, with a 24-hour low of $0.4545 and a high of $0.5108. Trading volume has increased by 70%, signaling growing interest among traders. According to CoinGape Markets, XRP has the potential to rally towards $5.

Additionally, the total open interest in XRP futures has soared more than 19% to 1.18 billion over the last 24 hours, with most buying activity occurring in the last 4 hours, resulting in a 13% increase. Some investors are likely to seek profit-taking opportunities.