Ripple’s expected court rulings might come down as soon as the end of March, says John Deaton
According to the founder of Cryptolaw John Deton, Ripple’s expected court rulings could be delivered as early as the end of March. The reason, he explains, is, “Twice a year, federal judges submit a list to Congress of motions that have been pending for 6 months or more.” He continues, “The next list is due March 31. If Judge Torres does not issue ruling on the pending motions, she must declare those motions for inclusion on the 6-month list.”
As previously reported by U.Today, Ripple CEO Brad Garlinghouse stated that Ripple was expecting some decisions from the court. The court is yet to rule on the Securities and Exchange Commission’s pending move to strike Ripple’s fair notice defense. Judge Analisa Torres is also yet to rule on individual defendants’ applications to dismiss the lawsuit (Brad Garlinghouse and Ripple co-founder Chris Larsen).
Judge Sarah Netburn’s expected verdict on the SEC’s motion for reconsideration, called “the biggest decision” in the case by John Deaton, is also awaited by Ripple and the XRP community. The lawyer for the XRP holders says on this subject: “I also believe that the decisions of Judge Netburn on the 63 emails and the notes of Estabrook (could) fall any day.
Ripple and the XRP community are their keeping fingers crossed while awaiting the next phase of the lawsuit to unfold.
XRP Price Action
According to data from CoinMarketCap, XRP was trading down around 4% at $0.753, in line with the broader crypto market rebound. XRP currently ranks sixth among cryptocurrencies by market capitalization, ahead of Terra’s LUNA and Cardano (ADA).
It seems that optimism remains in the XRP community concerning the Ripple-SEC lawsuit that has dragged on for more than a year.
Fox reporter Eleanor Terrett recently reported that SEC staff seemed to be losing faith in the agency’s ability to win the case. A source close to the SEC suggested to the Fox reporter that Commissioner Hester “Crypto Mom” Peirce raised private concerns that the SEC might not achieve the result it seeks.
