Fred Rispoli, a well-known lawyer advocating for XRP, has presented two possible timelines for when Judge Analisa Torres may deliver the final judgment in the legal battle between Ripple and the SEC.
In a recent post on the X platform, Rispoli suggested that Judge Torres could issue the ruling by the end of this month, specifically on July 31. He also proposed the possibility of the ruling being delivered on July 13, which he described as “poetic.”
Rispoli’s assessment indicates that while July 31 is the more probable date for the final verdict, the significance of July 13 within the XRP community could prompt Judge Torres to make the decision earlier than anticipated.
The Importance of July 13th
It is worth noting that July 13 holds special significance within the XRP community as it marks the date when Judge Analisa Torres issued the long-awaited summary judgment decision.
In that decision, the court determined that XRP itself is not a security and that Ripple did not violate federal securities laws through its programmatic sales and other distributions. However, the SEC prevailed in the matter of institutional sales of XRP, which the court deemed a violation of Section 5 of the Securities Act.
Current State of the Lawsuit
This violation is currently being litigated in the remedies phase of the lawsuit. While the SEC has requested a $1.95 billion fine and a permanent injunction following Ripple’s violation, the company is advocating for the penalty not to exceed $10 million.
The parties submitted their briefs related to the remedies in May. However, Ripple has filed two notices of supplemental authority, citing the decisions related to Binance and Terra to argue against severe penalties. The exact penalty that Judge Torres may impose against Ripple for its institutional sales of XRP remains uncertain.
Other Experts Predict July for Final Ruling
In addition to Attorney Rispoli, prominent crypto entrepreneur and founder of Dizer Capital, Yassin Mobarak, also speculated that Judge Torres could deliver the final judgment this month.
Mobarak noted that July has been a month for significant decisions in the lawsuit over the past two years. He mentioned that a judge overseeing Ripple’s case called out the SEC’s hypocrisy in July 2022 during the legal battle over William Hinman’s emails. Furthermore, he highlighted that Judge Torres issued the summary judgment decision in July 2023. He pointed out that both decisions coincided with his overseas vacation.
Interestingly, Mobarak revealed that he will be going on another vacation next week, implying that the court might deliver the final verdict based on the timing of his previous vacation plans and other significant XRP decisions.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. The opinions expressed in this article are those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not liable for any financial losses.
