Has been for over 2 years Ripple (XRP) is embroiled in a lawsuit with the US Securities and Exchange Commission (SEC). The case is still hanging over the crypto project like a dark cloud, but this may change very soon. Recently was still in it ripple news read that Ripple’s CEO expects a ruling this year certainly will come, but according to Ripple lawyer John Deaton, we may only have to wait a few more weeks.
Ripple lawsuit
John Deaton, who himself represents the XRP community in the lawsuit as an attorney, said so on Twitter. He wouldn’t be surprised if a verdict is handed down by the judge tonight. In any case, he does not expect any further delays.
I seriously doubt that we see a significant delay from here. Could be tonight or in a couple weeks.
— John E Deaton (@JohnEDeaton1) March 7, 2023
“I highly doubt we will see any significant slowdown from here. It could be tonight or in a few weeks.”
According to another Ripple attorney, James K. Filan, Judge Analisa Torres is known for making her decisions in rapid succession. Based on this observation, the presumption is that the court will not keep you waiting for the next step.
Fred Rispoli, a lawyer at Hodl Law, also indicates that he is convinced that the XRP lawsuit is finally almost over. According to the summary judgment is “very, very close”.
However, Rispoli believes that neither Ripple nor the SEC will walk away with a complete victory. He expects that at least part of the current case will have to come to court again.
XRP to $1?
Nevertheless, there is certainly a chance that Ripple will score a crucial victory. Should the court rule in favor of Ripple, this could also give a serious boost to XRP. After all, the dark cloud that hung over Ripple is suddenly gone.
Of course, it is impossible to predict what the price of XRP will do in such a positive scenario, but a considerable price impulse can actually be expected. Perhaps the price can finally start the climb towards $1 again.
Unfortunately, the reverse can still be true. It is not a given that Ripple will walk away with the profit, the SEC can also be proven right by the judge. Obviously this one would bearish scenario are for the XRP price.
