The high-stakes legal battle between the U.S. Securities and Exchange Commission (SEC) and blockchain company Ripple over the regulatory status of the XRP cryptocurrency continues to unfold. According to prominent Ripple analyst JackTheRippler, who shared the details with his 200k X (Twitter) followers, there are some key dates ahead that could determine the outcome of this case.
“The next important dates in the SEC v. Ripple case: March 13, 2024: The deadline for the SEC to file its remedy-related brief. April 12, 2024: The deadline for Ripple to file its opposition to the SEC remedy-related brief. April 19, 2024: The deadline for the SEC to file its reply, if any, to the Ripple opposition brief,” JackTheRippler tweeted.
After these filings, Judge Analisa Torres will decide on the penalties against Ripple and its executives Brad Garlinghouse and Chris Larsen if they are found to have violated securities laws by selling XRP. A final ruling on the case could come sometime in summer 2024.
The prices of XRP, the sixth-largest cryptocurrency by market capitalization at press time, has been fluctuating between $0.50 to $0.60 for months. The eventual ruling will likely significantly impact XRP’s price and future. Crypto investors are closely monitoring the case to determine the next likely moves.
Upon conclusion of the case, both Ripple and the SEC have the options to appeal against any rulings they disagree with. This legal drama may continue to unfold over the next few years unless a settlement is reached at some point.
For now, the important dates to watch are March 13, April 12, and April 19 when the two sides will make their case to Judge Torres on remedies and penalties. The crypto community will be paying very close attention.
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