Deaton predicts new verdict date for Ripple Vs. SEC, XRP price loses steam.

The XRP community is eagerly awaiting a decision in the legal dispute between Ripple Labs and the US Securities and Exchange Commission (SEC). Speculations about the end date have been incorrect so far. The judge in charge, Analisa Torres, is taking longer than expected to make her ruling, according to previous legal proceedings.

Nevertheless, lawyer John E. Deaton, who represents the XRP army as amicus curiae in the case, has made a new prediction. In the latest CryptoLaw broadcast, Deaton speculated that Judge Torres will issue a summary judgment on September 6, 2023.

Ripple Vs. SEC: Why September 6 Might Be The End Date

During the live stream, the lawyer explains that he has attempted to predict the verdict date several times in the past. He examined Judge Torres’ previous proceedings for this purpose. It was found that Torres made rulings at different speeds once the Daubert/expert motions were decided: sometimes on the same day, and in other cases, after two, four, and six months, respectively.

Based on this, Deaton predicted that Judge Torres will rule on May 6, at the latest by early June (the average being three months). As a reminder, Torres ruled on the Daubert motions in the Ripple vs. SEC case on March 6 of this year.

Now that those deadlines have passed, Deaton has come up with a new prediction: according to the lawyer, Judge Torres will issue a summary judgment after the full six months, on September 6 of this year. Deaton also pointed out that the length of the litigation between Ripple and the SEC is within the usual range and not longer than other cases.

In another comment, Deaton mentioned that Judge Torres may delay the ruling because she understands the significance of the SEC v. Ripple case. She is aware that thousands of people, including the appellate courts, will review her summary judgment decision in the Ripple case. Additionally, she has 500 open cases to decide, 44 of which are criminal cases.

Ripple: Waiting on a Decision

— CryptoLaw (@CryptoLawUS) June 27, 2023

XRP Price Loses Steam

The delay in the ruling of the legal battle between Ripple and the SEC appears to have disappointed XRP investors. Looking at the 1-day chart of XRP, it can be seen that the price is in a descending trend channel after failing to break above the resistance at $0.50 in the higher time frames over the past two weeks.

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more