XRP vs SEC Case ‘Likely’ to Stretch Beyond February, Pro-Ripple Legal Expert Reveals New Timeline
Jeremy Hogan, Partner at Hogan & Hogan, has shared his insights on the potential timeline for the XRP vs SEC case resolution. As the Trump administration prepares to take charge in two weeks, with Paul Atkins expected to assume the role of SEC Chair, the cryptocurrency community eagerly anticipates the conclusion of this prolonged legal dispute.
Timeline Predictions and SEC Process
When questioned about the possibility of the case being dismissed, settled, or dropped by February, Hogan expressed skepticism about such a swift resolution. “I’d say it’s possible but maybe unlikely,” he noted. “40 days is not a lot of time to get reports together, memos, have the requisite SEC meetings, etc. I’m going with April/May as a likely timeframe,” he added further.
The lawyer’s cautious timeline estimation reflects the complex administrative procedures within the SEC. The process requires extensive documentation, including detailed reports and memoranda, along with multiple internal meetings to reach consensus on such a significant case.
The SEC faces a crucial deadline on January 15, 2025, when it must file its appellate brief with the United States Court of Appeals for the Second Circuit. This filing is particularly significant as failure to meet this deadline could result in the dismissal of their appeal.
The market has shown sensitivity to these legal developments, with XRP experiencing notable price volatility. Following the SEC’s announcement of their appeal, the token saw an 11% decline, particularly after the regulatory body challenged the previous ruling that determined XRP was not a security in retail transactions. Recent market data shows XRP trading at approximately $0.5117.
The ongoing appeal has broader implications for the crypto industry, potentially affecting pending XRP exchange-traded fund (ETF) applications. This includes Bitwise’s recent ETF filing, which could face additional scrutiny amid the SEC’s continued enforcement actions.
Read also: Crypto Veteran Predicts XRP Price to Hit $15 in 2025, Updates On New Altcoin Pick
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