Here's Why The XRP Price Might Hit $1, While Launchpad XYZ and yPredict Crypto Presales Blast to New Highs
As the legal battle between blockchain firm Ripple and the Securities and Exchange Commission (SEC) rages on, uncertainty looms within the crypto community over the outcome and its potential implications for the industry.
A key question on everyone's mind is when Judge Annalisa Torres will issue a summary judgment in the high-profile case.
Ripple recently addressed the potential timing for a summary judgment in its Q1 2023 quarterly report. The company expects a resolution within the year but acknowledges that the court ultimately decides the timeline.
Initial predictions suggested that the case could be resolved by the end of Q1 2023.
However, prominent pro-XRP lawyer John Deaton now advises observers to watch for May 6th, as he believes a summary judgment will be delivered on that date. Ripple CEO Brad Garlinghouse also anticipates a resolution in the first half of 2023.
In the quarterly report, Ripple noted that the court has struck two SEC expert opinions from the record, including one regarding the "reasonable expectations of XRP purchasers" and another on determining the cause of XRP price changes.
This development is significant, as it narrows down the issues to be considered in the summary judgment.
Ripple has taken aim at the US regulatory approach to the crypto industry, arguing that it focuses on enforcement rather than establishing clear rules.
The company cites examples of enforcement actions, such as the SEC issuing Wells Notices to Coinbase and Paxos, rather than creating regulations.
For context, the SEC sued Ripple and two of its executives, Chris Larsen and Brad Garlinghouse, in December 2020, alleging that they offered unregistered securities in the form of XRP.
The SEC has faced backlash over its lack of
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