SEC and Ripple Litigation May End On This Date! Details are getting clear!
For the first time, the date of the end of the case has become so clear. #XRP price could rise on this date!
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The hottest legal battle the cryptocurrency markets have ever seen is between Ripple and the #SEC. The SEC takes this case very seriously and wants to use it as a threat in future cases. Ripple, on the other hand, has to draw at least this match in order to achieve all its future goals. Not to mention that XRP investors have been on their toes for nearly 15 months, but when will the lawsuit end?
⬛Content Guide
✅When Will the SEC and Ripple Litigation End?
✅Who Will Be The Winner Of The Ripple Case?
✅When Will the SEC and Ripple Litigation End?
According to new documents that have surfaced, the lawsuit between the U.S. Securities and Exchange Commission and cryptocurrency firm Ripple will likely end between the third and fourth quarters of 2022. Attorney Jeremy Hogan has reason to believe the Ripple lawsuit against the SEC may be over. In a tweet posted yesterday, Hogan shared a court order document stating that Ripple plans to complete the case by November 18, 2022.
The estimated result date for the case is between 26 August and 18 November 2022. The important details in the document are as follows;
“Due to the overlap of factual and legal issues between this case and SEC action, the parties agree that there are efficiencies in taking certain aspects of SEC action before certain deadlines in this action.”
✴️Who Will Be The Winner Of The Ripple Case?
However, Hogan also noted that there was no solid evidence of reconciliation and acknowledged that the case could be resolved at any time. Continuing his Twitter thread, where he disclosed the information through the document, Hogan also said:
“The document makes me feel more confident in my September summary assessment forecast. I think if Ripple wins the SEC case in September/October and then this class action is gone because of collateral estoppel”.
In the document, Ripple also pointed out that rescheduling the pending class action will help limit the number of issues in the case and ease the burden of legal discoveries and talking points in court for both parties.
Several legal experts and crypto enthusiasts speculate about many aspects of the case. The lawsuit, which began at the end of 2020, has seen several developments that point to a more positive outcome for the crypto firm. In January 2022, Attorney John Deaton claimed that the SEC's delaying tactics could extend the case until the end of 2023. However, court proceedings and the disclosure of sufficient evidence, chaired by Judge Sarah Netburn, suggest that the court is inclined to recommend mediation. An agreement can be reached very soon.
Earlier this year, several regulatory notes from 2012 revealed that Ripple did due diligence before promoting XRP as an investment opportunity. The regulatory notes also proved that the company wanted to be compliant even before the SEC regulator turned its eye to digital assets.