According to Ashley Prosper, the Ripple v. SEC case could reach a settlement or receive a final ruling by Judge Torres between July and September. As the XRP community eagerly awaits the SEC’s reply in the Ripple lawsuit regarding remedies, Prosper has outlined the potential timeline for the case, including the possibility of a settlement and the subsequent stages.
Prosper highlighted that today, May 6, 2024, the SEC will file its final reply in the remedies phase. As per the court’s schedule, this reply will be filed under seal today, allowing Ripple and the regulatory agency to discuss necessary redactions. A redacted version of the reply will then be filed in the public docket on May 8.
Prosper mentioned that after the SEC’s reply, Judge Analisa Torres could issue a final ruling between July and September of this year.
Regarding the potential for an appeal and settlement, Prosper speculated that either party could appeal the judge’s ruling, which would move the lawsuit to the Second Circuit. Legal experts predict that the resolution of the Ripple lawsuit could be delayed until 2026 if any party decides to appeal. However, Prosper suggested that the appeal might not take as long as expected to resolve.
Interestingly, Prosper emphasized that the parties involved could reach a settlement at any time during the appeal process. He projected that a mutual agreement or settlement could occur before a decision by the appellate court.
Since the lawsuit began in December 2020, there has been speculation within the XRP community about the possibility of a settlement. Despite Ripple’s willingness to settle under the condition that XRP is recognized as a non-security, the SEC has shown little interest in this approach. The SEC and Ripple have participated in settlement conferences, but these attempts have been unsuccessful so far.
The crypto community is eagerly awaiting the SEC’s reply regarding remedies, which will bring the lawsuit closer to a final resolution at the district court level. It remains to be seen whether any party will pursue an appeal at the Second Circuit after Judge Torres issues her final ruling.
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