Following the release of the documents related to the infamous William Hinman 2018 Ethereum speech, the longstanding United States SEC v. Ripple lawsuit is expected to end sooner than later with different predictions circulating.
Marc Fagel, the former Regional Director of the U.S. SEC’s San Francisco Regional Office is the latest to drop a prediction on when the XRP lawsuit — where the U.S. Securities Commission claims XRP is a security — would end. The former SEC director also highlighted the reason behind the delay in the Summary Judgment declaration from the presiding judge Analisa Torres.
Fagel noted that the lawsuit which was initiated by the SEC against the San Francisco-based cross-border payment firm and its executives Brad Garlinghouse and Chris Larsen in December 2020 is expected to be concluded in a matter of days.
1/ 1) I try to avoid speculating, but my guess is a ruling is coming within days. 2) Even if I'm wrong, there's no basis to think the delay is due to anything beyond the complexity of the case. 3) I don't understand the "greater confusion" point–Ripple is substantially different
— Marc Fagel (@Marc_Fagel) June 15, 2023
This he said in response to a notable XRP community member Stefan Huber, who submitted that a further delay in the issuance of the summary judgment in the Ripple-SEC by Judge Analisa Torres would lead to “greater confusion.”
In addition, Mr Huber noted that continuing to prolong the final ruling in the Ripple-SEC case — even after the release of the controversial Hinman Speech Documents on June 14 — would give the impression that “her ruling was influenced by the public reaction.” He wrote, “…Every day that passes between the disclosure of the Hinman emails and the classification of them by a court is a +1 for everyone’s fair notice defense. Something that may make sense to you, but would be a disservice to the credibility of the legislative, executive, and judicial branches.”
Fagel, who disagreed with Huber’s point regarding the reason for the delay in the issuance of the highly anticipated summary judgment, opined that the indecision is only because of the complexity of the Ripple-SEC case and not because the court wants to be partial or whatsoever. The former SEC director added that the XRP lawsuit is “substantially different,” unlike the recent SEC lawsuits against Binance and Coinbase.
While it remains to be determined when the lawsuit would be wrapped up, Ripple CEO and many others are confident the SEC would lose in the XRP lawsuit. Accordingly, several analysts expect XRP to rally massively to new highs. As published, a top crypto strategist submitted that there is no reason for XRP not to hit $10 or $100.
Follow us on Twitter, Facebook, Telegram, and Google News
