Boutique Media & consulting group
BTC$66940
ETH$2631
BNB$589
XRP$0.54
Fred Rispoli, founder of HODL Law and a prominent XRP-supporting attorney, has made an epic prediction regarding Judge Analisa Torres’s potential ruling in the United States Securities and Exchange Commission (SEC) versus Ripple case.
After more than three years of legal litigation, this protracted legal dispute may finally reach resolution by the end of this month, according to Rispoli.
Is the High-Risk XRP Lawsuit Coming to an End This Month?
Cryptocurrency market analysts and XRP investors eagerly await the judgment in the long-standing case between Ripple and the SEC. Attorney Fred Rispoli has speculated on the likely conclusion date for this lawsuit.
In a recent article about XRP, Rispoli referenced a recent filing, specifically Ripple’s supplemental authorization notice, which cited the latest ruling by Judge Amy Berman Jackson in the SEC versus Binance case. Jackson’s ruling reinforced the precedent set by New York Judge Analisa Torres in the SEC versus Ripple case, establishing that selling XRP on exchanges and through algorithms does not meet the SEC’s investment contract standards.
Rispoli stated,
“I just received notice of the SEC’s lawsuit against Ripple, and my heart skipped a beat… But don’t worry, there’s no judgment yet. This is the notice Ripple sent to Judge Torres last week regarding the Binance ruling.”
Ripple contends that, similar to the Binance litigation, selling XRP on the secondary market does not constitute securities sales under US federal law. Ripple also points out the lack of regulatory clarity to support its argument against the securities regulatory agency.
When asked by an XRP user named “CryptocurrencyMoon Amsterdam” about his estimate for Judge Torres’s ruling, Rispoli replied:
“On July 31st, although I can imagine she’ll write it with some poetic flair, given the significance of July 13th—the anniversary of Judge Torres’s milestone ruling in 2023 that injected new life into XRP prices.”
Ripple and the SEC have been in the remediation phase, with the agency initially seeking nearly $2 billion in fines against the San Francisco-based blockchain payment startup. The SEC recently significantly reduced its request to $103 million, but Ripple maintains that civil penalties should not exceed $10 million.
Sentiment: Positive
See also
