Ripple vs SEC Nears Final Chapter: XRP Could Explode if Court Unlocks Escrow Funds
The long-running Ripple litigation may finally be coming to an end, according to recent court developments, giving the XRP community cause for renewed optimism. Despite recent market volatility, XRP may be set up for a long-term bullish surge if the SEC and Ripple file a joint motion to lift the current injunction and release $125 million held in escrow.
XRP Lawsuit Nears End: Ripple & SEC Submit Final Motion to Court
Both Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have asked Judge Analisa Torres of the Southern District of New York to grant a joint motion in what could be the last phase of the well-known Ripple litigation. The plan calls for spreading the $125 million civil penalty that was kept in escrow and lifting the injunction that had previously prevented Ripple from selling institutional XRP.
The parties have agreed that Ripple will receive the remaining $75 million, with $50 million going to the SEC. The motion states that if granted, this request would enable both parties to move forward to the Court of Appeals for limited remand, reflecting a settlement already agreed upon.
Ripple’s Fate in Judge Torres’ Hands as Legal Experts Clash on Outcome
A similar application was originally refused by the Court in May for lack of explanation, but the latest filing contends that extraordinary circumstances have now arisen. These consist of a completed settlement and a more significant change in the SEC’s stance on crypto enforcement.
Legal professionals are cautiously hopeful. Judge Torres may be as tired of the case as anybody else and may want to stop it, according to lawyer Bill Morgan. Some, like Fred Rispoli, think the motion might still be rejected, though, because it doesn’t fully address the court’s prior issues.
For more up-to-date crypto news, you can follow Crypto Data Space.
