In litigation Securities and Exchange Commissions The US (SEC) against Ripple is in a lull as the entire crypto industry waits for a judge to rule on summary judgment. Even the approximate date when the decision will be made is unknown. The lawyers who are watching the case have previously tried to guess this important date, but since none of the predictions came true, they do not make any more statements.
Pro XRP Lawyer Expects Judgment By August
Lawyer Fred Rispoli, a former SEC lawyer who sided with Ripple in this case, predicted a possible end date US SEC lawsuit against Ripple. This is his first such prediction. Lawyer outlined statistics associated with Judge Analissa Torres in respect of the summary judgment. He stressed that the judge granted the petition of the participants for a summary judgment in 37% of cases. While the decision was made in favor of the plaintiffs in 24% of claims.
According to Rispoli, the Application for Summary Judgment was announced in an average of 249 days. However, 60% of decisions were delivered within 146 to 330 days.
This suggests that the judgment should have been delivered around May 21, 2023, which is 249 days from September 17, 2022 (the date of the original motion for summary judgment). He added that if the 330-day criterion is taken into account, then the decision will be made around August 10, 2023.
The decision on the native cryptocurrency of Ripple, the nature of the XRP token, is expected to remove a huge amount of confusion regarding secondary sales. However, the judge may leave these questions unanswered, as she does not face such tasks.