Fred Rispoli, a senior partner at Hold Law, has made a bold prediction that a decision will be made in the Ripple-SEC case by either late July or early August.
The ruling by Judge Torres could provide much-needed clarity on XRP’s regulatory status and its impact on the wider US cryptocurrency market.
As the Ripple community eagerly awaits the outcome of the long-standing legal battle with the U.S. Securities and Exchange Commission (SEC), Fred Rispoli has shared his insights on the potential outcomes of the case through the X platform.
“I anticipate that we will have a ruling by the end of July or early August. Although Judge Torres may choose to make a poetic decision on July 13,” he stated.
Fred, known for his support of Ripple, hinted at the significance of July 13, 2023, when Judge Torres classified XRP as a non-security, resulting in a 100% surge in XRP’s price in a single day. This ruling not only impacted the XRP token but also influenced the entire cryptocurrency landscape.
When questioned about the possibility of a settlement, Fred expressed skepticism as both parties seem firm in their positions. “The case could potentially settle before the ruling, but I currently see that as a 0% chance,” he remarked.
Furthermore, Fred discussed the potential for post-decision settlements to address any unresolved issues that may arise.
In terms of a possible settlement between Ripple and the SEC, Fred highlighted the SEC’s inability to appeal claims against Ripple executives Brad Garlinghouse and Chris Larsen related to Institutional Sales. However, the SEC retains the option to appeal rulings concerning XRP sales.
Fred also addressed a procedural complication involving Judges Torres and Netburn, suggesting that they could collaborate to streamline the judgment process by bypassing the need for expert witness Andrea Fox’s testimony.
Former Ripple executive Sean McBride noted that XRP prices may remain stagnant until Judge Torres delivers her final verdict, with the current XRP price trading at $0.4857, representing a 1.73% decline.
In conclusion, as the Ripple-SEC case nears its conclusion, the cryptocurrency community eagerly anticipates the potential outcomes and their implications on the future of XRP and the broader cryptocurrency market.