The anticipated Ripple lawsuit Summary Judgement has generated immense interest within the crypto market as we approach the final ruling, potentially by the end of 2023. The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has been ongoing for over 100 days, with both parties receiving mixed results from Judge Analisa Torres on their motions. However, there is speculation that the judgement could come earlier than expected.
As the wait continues, Ripple’s management remains optimistic, anticipating a decision by year’s end. Meanwhile, the XRP price has managed to recover significantly since the beginning of 2023, reaching a notable $0.54 by March’s end. Recently, the focus of the lawsuit shifted to the documents related to the infamous Hinman speech, igniting discussion within the crypto community.
A pertinent question remains: How long before the XRP lawsuit judgement is delivered? Considering it has been nearly 110 days since the last ruling, we can refer to the average time of 166 days for federal judges to deliver summary judgements, based on an analysis by the University of Denver on civil case processing in federal courts. Even if we take into account the average duration, there’s a slight chance the final ruling could be reached within Q3 2023.
This delay in judgement has led some in the crypto community to express dissatisfaction with the justice system. CryptoBull, for instance, noted that the extended wait hurts people’s confidence in the process. Despite these concerns, it’s important to remember that there is still potential for the judgement to come sooner than anticipated.
In the meantime, Ripple has not slowed down, as it powers a top Indian bank’s Digital Rupee Project. Furthermore, regarding other crypto news, the HBAR Crypto recently announced that the ChatGPT plugin is now live on the Hedera Network.
As we await the conclusion of this high-profile case, it’s crucial for investors to conduct thorough market research before making any investments in cryptocurrencies. Although the author and publication hold no responsibility for any personal financial losses, the wider implications of the Ripple lawsuit will likely have a significant impact on the crypto market once the final judgement is delivered.
Source: Coingape
