Fast Facts
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The Ripple community anticipates significant developments on April 16, when the company’s appellate brief is due, with legal expert Fred Rispoli estimating a 90% chance of a settlement or withdrawal notice.
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CEO Brad Garlinghouse previously hinted at a favorable outcome in the lawsuit against the SEC, yet the agency’s silence raises doubts about the case’s conclusion.
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Fred Rispoli noted that Ripple announced the dropped appeal without written SEC confirmation, indicating that official actions are still pending.
- A recent “emergency request” from Justin W. Keener has created tension between Ripple and the SEC, with the agency questioning its jurisdiction over the matter and labeling it unnecessary.
Important Ripple v. SEC Lawsuit Update Coming on April 16?
The Ripple community eagerly anticipates a significant update on April 16. That date marks when Ripple is set to file its appellate brief. Legal expert Fred Rispoli predicts a 90% chance of either a settlement or withdrawal notice.
Last month, Ripple CEO Brad Garlinghouse indicated the potential end of the protracted lawsuit against the U.S. Securities and Exchange Commission (SEC). However, the SEC has not confirmed this development, leaving many wondering about the case’s true status.
Fred Rispoli, a prominent U.S. attorney, expressed optimism for a resolution soon. He noted that Ripple’s announcement about the SEC dropping its appeal lacked written assurances from the agency. Thus, he believes the public statement may not yet be official.
Transitioning to the recent developments, a filing from Justin W. Keener emerged as a focal point in the legal battle. Earlier this month, Keener requested Judge Analisa Torres to present “decisive evidence” that he claims favors Ripple. The implications of this filing remain unclear, especially since Keener recently faced legal troubles from the SEC.
In response, the SEC opposed Keener’s request, citing three key reasons. First, it argued that the District Court no longer has jurisdiction over the case, as it is transferred to the Second Circuit. Second, the commission claimed that Keener did not file the correct motion to intervene. Lastly, the SEC deemed the filing “unnecessary,” asserting that Ripple should independently decide if the evidence is beneficial.
As April 16 approaches, the Ripple community remains hopeful. Many believe a positive outcome could drive technology innovation, enhancing Ripple’s unique propositions in the cryptocurrency market. The status of XRP could influence future use cases, potentially paving the way for broader adoption.
Stay tuned for further updates as this situation unfolds.
TL;DR: The XRP community is waiting for an important update on April 16, when Ripple’s appellate brief is due. Legal expert Fred Rispoli suggests there is a 90% chance of a settlement or withdrawal notice.
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