The infamous lawsuit between ripple (XRP) and the US Securities and Exchange Commission (SEC) has been running for almost two years now and the judge has still not issued a ruling. However, there has been quite a bit of progress in the case lately. Some important things are about to happen.
Ripple lawsuit progressing steadily
It seems that a verdict from the court will no longer take forever. Both parties filed a motion a while ago to summary judgment to the court indicating that a party has gathered enough evidence for the court to rule. Ripple has already responded to this SEC motion and vice versa.
This means that we have now entered a new phase of the lawsuit. It can also be said that there is finally light at the end of the tunnel. However, we can’t say anything about the possible verdict of the judge yet, although the XRP community sees the chance of a Ripple victory growing by the day.
Ripple lawyer Jeremy Hogan let on Twitter know that he was even surprised at the poor quality of the SEC’s arguments.
“I was surprised at how weak the SEC was on the post-sale obligation. I feel like I’m missing something,” Jeremy Hogan said
Both sides now have until November 15 to respond to each other again. These arguments are expected to be published on November 21. So we will know more at that time.
XRP community in the lawsuit
Meanwhile, the XRP community could take a more active role in the lawsuit. Attorney John Deaton said that several thousand signed pieces of evidence have been submitted by XRP holders and members of the XRP community may be able to make their voices heard in the ongoing case.
EXHIBIT 167. #XRPHolders make an appearance in this case. Everyone that took the time to sign an affidavit and fight back. Look at you now!!! https://t.co/OYmlpQgyWt pic.twitter.com/mSqGKNTZjO
— John E Deaton (220K Followers Beware Imposters) (@JohnEDeaton1) October 20, 2022
All in all, there’s plenty to do in the case. So it will be an exciting few months. Just over a week ago was in the ripple news read that Ripple CEO Brad Garlinghouse is at least cautiously optimistic that the judge over three to four months will have given a verdict.