XRP Lawyer Speculates on Possible Ruling Date in SEC vs. Ripple Case
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In a recent CryptoLaw broadcast, pro-XRP lawyer John Deaton offered his speculation on the potential date for Judge Analisa Torres to issue the summary judgment ruling in the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple. Based on historical patterns, Deaton suggested that September 6, 2023, could be the day for the ruling.
Ripple: Waiting on a Decision https://t.co/ty0LG3AASV
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Judge Torres has a track record of delivering summary judgment decisions within a few months of her rulings on Daubert/Expert motions, according to Deaton. In some instances, she has even released both rulings on the same day. However, there have also been occasions where it took her two to six months to issue the summary judgment after the Daubert ruling.
Deaton’s estimation stems from Judge Torres’ ruling on the Daubert motion in the Ripple lawsuit, which occurred on March 6. Considering a potential timeframe of six months, Deaton arrived at the September 6 date for the summary judgment.
XRP Community Frustrated Over Delay in Ruling
The XRP community has expressed frustration over the delay in the ruling’s release. Attorney Deaton provided insight into the possible reason for the delay, suggesting that Judge Torres comprehends the significance of the SEC vs. Ripple lawsuit. Deaton emphasized that the judge is aware that thousands of people, including the appellate courts, will scrutinize her decision.
Moreover, Deaton highlighted that Judge Torres currently has 500 open cases to address, contributing to the potential delay. The extensive amount of documentation from both Ripple and the SEC further adds to the judge’s workload, with hundreds and thousands of pages requiring careful review.
While Deaton’s speculation offers an estimated timeline for the summary judgment, it is important to note that it is not an official announcement. The cryptocurrency community awaits the ruling with anticipation, as it will have far-reaching implications for Ripple and the wider crypto industry.
As the SEC vs. Ripple case continues to unfold, stakeholders eagerly await Judge Torres’ decision, which could determine the future trajectory of XRP and its regulatory status.
At the time of making this report, XRP traded down by 2% at $0.4740 as the cryptocurrency struggles to recover above the $0.5000 price point.
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