XRP Lawsuit: Lawyer Reveals Reason Behind Delayed Remedies Ruling
The XRP lawsuit has been gaining notable attention from the crypto market participants, with speculations soaring over a potential conclusion of the case. However, the delay has sparked discussions in the XRP community, with the investors seeking a potential timeline for Judge Torres’s decision in the Ripple Vs. SEC lawsuit. Amid this, pro-XRP lawyer Fred Rispoli has shared insights on the probable reasons behind the delay in the ruling.
Lawyer Reveals Reason Behind XRP Lawsuit Conclusion Delay
Yassin Mobarak, founder of Dizer Capital and a prominent crypto figure, has voiced his frustration, questioning the extended duration of the remedies phase in the XRP lawsuit. In a recent post, Mobarak noted that most legal items have already been ruled on, making the prolonged remedy ruling “strange”.
His comments echo the growing impatience within the XRP community, which eagerly awaits the case’s outcome. The delay has sparked concerns, with many wondering what’s causing the holdup. As the cryptocurrency community awaits, the lawsuit’s impact on XRP’s future hangs in the balance.
Adding to the discussion, pro-XRP lawyer Fred Rispoli suggested that the delay might be due to both benign and “potentially ominous” factors. The lawyer noted that logistical issues like vacations and a heavy caseload may be contributing to the holdup while hinting at more complex legal considerations.
Meanwhile, he revealed that judges Torres and Netburn are likely to have already discussed an outstanding expert issue, which will reportedly have no bearing on Torres’ ruling. Rispoli’s comments fuel ongoing speculation about the delay’s cause, leaving the XRP community eagerly awaiting the case’s outcome.
Settlement Rumors Amid Ripple’s Confidence
The speculation around the case has been intense, with many predicting previously that Judge Torres would issue her ruling in late July or early August. Fred Rispoli himself anticipated the remedies phase ruling by July 31. However, the absence of a ruling by this date has only heightened the community’s curiosity and concern.
In addition, the recent closed-door meeting of the U.S. SEC has sparked rumors over a potential settlement in the XRP lawsuit. However, several market experts have dismissed claims over an imminent settlement in the ongoing Ripple Vs. SEC case, asserting that the lawsuit will proceed to a formal conclusion.
Meanwhile, Ripple, in its recent XRP Q2 market update, said that the firm is confident in a fair ruling from Judge Torres in the remedies phase. In addition, it also affirmed that the central ruling of XRP’s security will remain unchanged regardless of the lawsuit’s outcome.
As of writing, XRP price was down 2.06% to $0.5042, with its trading volume dropping over 26% to $1.39 billion. The crypto has noted a slump of around 21% over the last seven days, amid a broader market selloff, while noting gains of about 16% in the last 30 days.
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