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- The lawsuit between Ripple and the SEC is projected to end in weeks not months.
- Enthusiasm remains high in the community with different predictions on the horizon.
Owing to the recent revelation published by pro-XRP attorney John Deaton concerning the classification of XRP in the Ripple vs SEC lawsuit, the XRP community is now expecting a final ruling in the coming weeks, not months. The small footnote in a Ripple opposition brief which detailed a discussion with staff of the United States Securities and Exchange Commission has raised several speculations.
It all began when “XRPnewt”, a Twitter user posted a tweet that reads, “XRPCommunity, Brad Garlinghouse expects a court case resolution in weeks and not months, following the recent court news regarding the Hinman emails.”
BREAKING #XRPCommunity : @bgarlinghouse expects a court case resolution in weeks and not months , following the recent court news regarding the Hinman emails!
PS: feels like the interviewer is an XRP holder 🤣 pic.twitter.com/OT303FoNZI
— XRPnewt.XRP (@XRPnewt) May 25, 2023
A brief video clip which appears to be a virtual interview of the Ripple boss at the “Redefine Tomorrow 2023 summit” was also added. Garlinghouse stated in the video clip;
In terms of where things stand today, I’ll try not to get too much into the legal wigs. You’re right that I feel very confident that we’ll see a decision from the court this year. In fact, I’ll guess in weeks, not months,
In response to the Twitter post by XRPnewt, another user identified as CryptoSasha suggested that a summary judgment is expected no later than Sunday 23rd July 2023. According to this user, this assumption was made based on some financial institutions’ investment features which are supposed to launch by Monday 24th July 2023.
A couple of other XRP community members and fans including crypto lawyer Bill Morgan have reacted positively to this hint of a soon-coming summary judgment.
Some others have expressed anxiety towards optimism. As a show of solidarity, Deaton, on behalf of himself and other pro-XRP lawyers like Jeremy Hogan and James K. Filan wished Garlinghouse good luck with his new prediction of the potential summary judgment date.
At the same time, a laughing and crying emoji which Deaton added at the end of his tweet suggested to Crypto Twitter that he may be skeptical about the Ripple CEO’s prediction. He, however, clarified that his emoji was not connected to Garlinghouse’s prediction, rather he was making fun of the fact that his prediction and that of his other pro-XRP lawyers have been wrong in the past.
Amidst all these, the fate of Gary Gensler as Chairman of the SEC is not certain.
Ripple vs SEC: Here’s the Latest Court Ruling
Before the footnote was revealed, the court’s ruling on the publication of the Hinman speech had been a game-changer for Ripple in its over two-year-long lawsuit with the U.S. regulator.
District Judge Analisa Torres of the U.S. District Court for the Southern District of New York clarified that the SEC cannot seal off the document, as it initially planned to. According to Judge Torres, the document is relevant to the judiciary process and should therefore be published.
The regulator was only allowed to redact the names and personal information of people mentioned in the document. Attorney Filan declared that the SEC had until later in June this year to publish a redacted version of the document.
