As Ripple has dropped its cross-appeal following the US Securities and Exchange Commission’s (SEC) withdrawal of its appeal, many confirm that the prolonged XRP lawsuit has been settled. However, contradicting these claims, legal expert Fred Rispoli offered more clarity to the scenario. According to Rispoli, the Ripple SEC case still remains unresolved and will reach a settlement within the next 60 days.
XRP Lawsuit Nears End: Settlement Expected Within 60 Days
Although the SEC hasn’t made any official announcement regarding the dismissal of the long-held XRP lawsuit, many argue that the case is settled. This speculation emerges after Ripple dropped its cross-appeal, following the SEC’s decision to withdraw its own appeal.
However, Fred Rispoli, an attorney who has been vocal throughout Ripple’s legal battle with the SEC, presented a differing opinion. Rispoli posited that the Ripple SEC case has not been settled yet. Per the lawyer, it is still pending further procedures for a potential resolution.
The lawyer stated that the case will reach its conclusion within days. He noted, “At most we are 60 days out from this being 100%, formally, legally, and spectacularly over.”
XRP Lawsuit: What’s Next?
Recently, the SEC dropped its appeal against Ripple following which the latter withdrew its cross-appeal. This marks a significant development in the XRP lawsuit, paving the way for the Ripple SEC case’s ultimate end. This positive sentiment surrounding the Ripple lawsuit has also sparked anticipations of the platform’s announcement of its IPO.
Significantly, Rispoli stated that Ripple CLO Stuart Alderoty’s recent statement implies Ripple has already drawn up the necessary paperwork for a settlement. The next awaited development is the SEC commission’s vote, which is expected within 30 days.
Following the commission’s successful vote, the SEC will file to lift the injunction, a move that will be unopposed by Ripple. Subsequently, Judge Torres will then sign off on the filing within 30 days from the motion filing. Thus, Rispoli’s assertions suggest that the XRP lawsuit will finally be concluded within two months.
Is Ripple SEC Case Finally Nearing Its End?
Interestingly, a curious community member raised a question to Rispoli, seeking clarity on the legal status of the XRP lawsuit. The X user wanted to know if the Ripple case is nearing its end, or if there are more legal hurdles to follow.
Offering a more definitive outlook, Rispoli stated, “Over over…unless there is no legislation passed between now and 2028 and someone hostile to crypto comes into power.” He believes that the Ripple lawsuit will likely be resolved, unless major changes are made to crypto laws. He added that there’s still a chance of future challenges if there are changes in legislation or administration before 2028.
Despite these developments, it remains uncertain if Ripple will be able to resume institutional sales. Advocate Bill Morgan asserts that the platform must take a different approach to comply with the court order.
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