Nearly two years later, the SEC lawsuit against Ripple (XRP) and its manager is drawing to a close. In fact, Ripple continues to be accused of selling XRP tokens as unregistered securities. As we reported on cryptokoin.com, Ripple CEO announced that he expects the case to be concluded in early 2023, according to Brad Garlinghouse. Likewise, XRP investors have been waiting for the outcome of the case for nearly two years.
Its investors claim that the SEC lawsuit that caused most exchanges to delist XRP drove the price down
XRP has been one of the best performing Cryptocurrencies in the market. This comes to the fore as a view that analysts meet in common. In the last 30 days, the token price has reached a high of $0.55. XRP investors expect the token to rise above $1.00 if the case is won. XRP has an all-time high price of $3.84, which was reached about 5 years ago. Most altcoins hit all-time highs earlier this year. XRP investors, however, claim that the SEC lawsuit, which caused most exchanges to delist XRP, drove the price down.
As CNF recently reported, Ripple is gaining massive support from XRP supporters, with more than 75,000 XRP holders participating in Attorney John Deaton’s class action lawsuit against the US Securities and Exchange Commission (SEC). Plaintiffs say the SEC’s pursuit of Ripple and its executives has resulted in huge losses. The SEC appears to be guilty for the billions of dollars in losses incurred as a result of the lawsuit.
October is critical for Ripple
As defense attorney James K. Filan shared, there are a few key dates this October and through to the end of the year. The developments will affect the final decision of the XRP case. According to the lawyer, it all starts on October 18, when all parties submit all opposition-related materials to their summary resolutions temporarily under seal. In two days, all parties will meet. And so it will be linked to opposition briefings to identify the redactions both sides are looking for. On the 24th of this month, the parties will present publicly available redacted versions of their opposition briefings. In addition, they will only make temporary redactions requested by the parties during the meeting and conference.
Next up…Ripple/XRP case dates.
From @FilanLaw pic.twitter.com/Ko7ZrLvlmj
— HASHR Ventures ☀️ (@khughbreslin) October 11, 2022
With these, the XRP community will learn better about the case with some sealed and redacted material to be made public. November and December are also highlighted with three and two key dates, respectively. For example, on November 15, the parties will submit summary judgment response summaries temporarily under seal. Other important dates include November 21, December 9, and December 22.
