Pro-XRP Lawyer Reveals Potential Outcome Timeline in SEC Battle
Pro-XRP lawyer Fred Rispoli’s latest words about ripple and the US SEC case have set tongues wagging in the cryptocurrency world. Speaking on the first episode of Legit Bros, a crypto-based livestream, the lawyer shed light on important details surrounding the case, such as possible deadlines and the SEC and Ripple‘s possible next moves in the legal battle.
It is worth noting that since the US SEC and Ripple Labs clashed in court, the Ripple Labs-backed token XRP has been performing slowly in the market. Fred Rispoli’s comments on the matter further ignited anger within the XRP community and sparked investor speculation about the token’s future price movements.
Fred Rispoli Says XRP Lawsuit Will End Soon
Rispoli made a bold prediction in his statements that the entire case at the district court level could be concluded by July or August, before the appeal. He also addressed the concerns of the XRP community, emphasizing that the case has heavy stakes as Judge Torres is ready to announce how much fine Ripple should pay.
To this, the pro-XRP lawyer added: “I think it will be under $25 million.” Contrary to the SEC’s proposed $2 billion fine, this statement garnered a lot of attention in the global crypto world.
Meanwhile, much attention has also been drawn to the question of whether the Judge’s application will force an injunction on activities critical to Ripple’s business model, especially ODL (On-Demand Liquidity). To which Rispoli responds: It would be really bad if that happened, but Ripple will continue its efforts.
Simultaneously, a cloud of regulatory uncertainty has further clouded XRP’s future, although the token was trading in the green at the time of writing.
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XRP Price Increases
As of this writing, the price of XRP has increased by 0.74% in the last 24 hours and is currently trading at $0.525. While the market value of the token increased by 0.73% to $29.02 billion, its 24-hour trading volume decreased by 33.57% to $738.40 million. This data also supports XRP’s rather turbulent market price movement, which can mainly be attributed to the ongoing litigation.
However, if the case is concluded within the above-mentioned time, crypto market enthusiasts may witness a significant change in the price movement of XRP.
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