As reported by Fox journalist Eleanor Terrett, the Ripple lawsuit against the Securities and Exchange Commission (SEC) could have an unexpected outcome. Legal war almost two years ago, December 2020It started in .
Terrett said via his Twitter account that SEC officials had lost faith in the positive outcome of the case. The report, from a source close to the SEC, said the Commissioner known as the “Crypto Mother” Hester PeirceHe claimed that he had expressed his concerns about the incident. Known for his pro-crypto stance, Peirce believes the regulator will “not get the results he’s looking for.”
🚨SCOOP: Turns out even staff at the @SECGov aren’t confident they will win the case against @Ripple. A source close to the SEC tells me @HesterPeirce has expressed privately she thinks the SEC will not get the outcome it’s looking for.
— Eleanor Terrett (@EleanorTerrett) March 7, 2022
Besides, the legal battle between Ripple and the regulator has been going on for almost two years, as stated. The parties failed to reach an agreement, which had potentially unilateral consequences for the SEC or Ripple.
Lawyer Jeremy Hogan following the lawsuit and recently information on when Ripple expects the lawsuit to end shared. Based on documents submitted to the Court for the Northern District of California, the company expects the period between August 26 and November 18 to be the likely closing period.
“When will the Ripple lawsuit end? Ripple thinks it will end between August 26 and November 18. In the pending class action, Ripple agreed to withdraw the lawsuit to November 18, believing that the SEC lawsuit would be finished before then. Of course, it can always be decided.”
However, as the legal situation seems to have a clearer direction, XRP returns to the top cryptocurrencies by market cap. The token is at the center of the lawsuit, as the regulator claims that Ripple is selling it as an unregistered security. This, in turn, led to a prolonged downtrend.
At the time of writing, XRP is trading at $0.726. The cryptocurrency ranks 4th in terms of market cap excluding stablecoins (USDC and USDT), beating Cardano (ADA), Solana (SOL) and others.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.