In the US Securities and Exchange Commission (SEC) case against Ripple (XRP), both sides appear to be refusing to settle and are awaiting a verdict. According to experts, this should fall in the second quarter of 2023.
Almost exactly two years ago, Ripple (XRP) publicly announced that a lawsuit from the United States Securities and Exchange Commission was to be expected. When it actually happened the next day, the shock was great: the SEC wanted to collect at least US$1.3 billion in damages because Ripple had sold XRP without the necessary approval. 24 months later, Ripple and the SEC have completed the process phase during which they presented their positions and their evidence. As process observer and attorney James Filan previously explained: The court is currently reviewing the documents and preparing a verdict.
Speculation as to whether Ripple and SEC will still come to a comparison has not been satisfied so far. More recently, Cardano founder Charles Hoskinson fell on his nose assuming that December 15 would be the comparison date. Attorney John Deaton, who represents XRP investors and runs a pro-Ripple course, also hinted in a recent interview that everything is judgmental right now and there is little willingness to make a comparison. Deaton said March 31, 2023 is the earliest possible date for the judge’s verdict, but April or early May seems more likely.
Meanwhile, the XRP price curve does not really indicate whether the markets are expecting a legal victory from Ripple or its opponent SEC. XRP is trading today at around US$0.34, a level shortly after the SEC was filed in December 2020. Meanwhile, Ripple’s supposed legal victories had given to the price of XRP some positive impulses, but these did not hold up. long term.
Conclusion: Puzzle for Ripple, XRP and the SEC
The SEC indictment had already led to crypto exchanges in the United States and Canada, the delisting of XRP, and the suspension of Ripple’s North American operations. If Ripple is right in court and XRP is released again in the US, positive momentum can be expected. If the SEC wins, XRP may crash. Both parties are taking a high risk with the strategy of forcing a judgment and not seeking a settlement. Because the SEC would also be visibly beaten in the event of a loss and its efforts to expand the liability of the crypto industry would likely be halted. It can therefore in no way be excluded that a compromise will be found behind the scenes.
