Ripple SEC Lawsuit: Ex-Ripple Exec Predicts Judge Torres’ Ruling Odds in August
The ongoing Ripple SEC lawsuit remains one of the hottest topics in the cryptocurrency world. Former Ripple director Sean McBride has shared crucial insights, predicting the odds of Judge Torres issuing a ruling in August. McBride also suggested an alternative timeline if a decision is not made this month.
Ex-Ripple Exec Predicts August Ruling in Ripple SEC Lawsuit
Sean McBride, a former director at Ripple, recently posted on X about the likelihood of Judge Torres ruling on the Ripple SEC lawsuit in August. His post has garnered significant attention from the XRP community and the broader cryptocurrency space, highlighting the intense interest in the case.
In his post, McBride suggested a “50/50” chance of Judge Torres making a decision in August. Responding to comments, he noted that Ripple CEO Brad Garlinghouse had previously predicted a resolution by the end of summer. McBride mentioned that if there is a delay, Judge Torres is likely to issue her ruling by the end of September.
Speculation and Expert Opinions
The XRP community is buzzing with speculation about a potential settlement between Ripple and the SEC. However, legal experts like pro-XRP lawyer Bill Morgan and former SEC attorney Marc Fagel have downplayed the likelihood of a settlement.
The lawsuit has attracted varied opinions from legal experts and the XRP community. Comments from Ripple executives, including Brad Garlinghouse, have fueled speculation about a potential conclusion to the case. Ripple’s Q2 2024 XRP market report expressed confidence in a fair ruling, asserting that XRP is not a security.
Implications of the Ruling
The cryptocurrency community eagerly awaits the ruling, which could have significant implications. A favorable decision for Ripple could set a precedent for other cryptocurrencies and impact US crypto regulations. Conversely, an unfavorable outcome could have broad repercussions for the industry.
Current Market Scenario
As the deadline approaches, the XRP community remains on edge, hopeful for a resolution to the prolonged legal battle. As of writing, the XRP price was down 2% to $0.5517, with a 27% decline in trading volume to $1.36 billion, indicating the volatile market scenario.
Stay tuned for updates on the Ripple SEC lawsuit as we approach the anticipated ruling from Judge Torres.