The wider crypto community followed the XRP lawsuit since the SEC filed it in December 2020. Due to the lawsuit’s precedent-setting nature, the SEC wants to make an example of Ripple and enforce its regulatory capacities on cryptocurrencies. On the other hand, Ripple said that not only did it want to defend against the commission and fight for the wider crypto ecosystem.
Understandably, most XRP holders want the lawsuit to end soon, especially since the XRP price has fallen significantly after the trial started. However, for now, the XRP holders are still waiting for a favourable verdict and have the XRP relisted on US digital asset exchanges and let the price recover.
In a sense, a settlement is the fastest way to see an end to this lawsuit that has dragged on for too long. The constant delays have frustrated XRP holders and investors. Several members of the XRP community have even criticized the SEC after their strategy showed signs of wanting to drag the case further.
However, with the recent developments in the case and the multiple small victories Ripple got in recent months, a settlement may be happening sooner rather than later. And if Attorney Jeremy Hogan’s recent thoughts that the SEC’s case is already “dead in the water” is true, the chances that this will happen are getting stronger every day.
According to attorney John Deaton, the “court’s biggest decision in the lawsuit” is around the corner. This decision is about Ripple’s appeal to reconsider the DPP ruling, which grants the SEC possession over the “Estabrook Notes,” which several lawyers think will be the nail in the coffin on the commission case.
Attorney Jeremy Hogan thinks that since Judge Sarah Netburn has already seen all the documents in came, she will be the one to host the mediation. With the knowledge of the emails and other documents, she will likely see the SEC as the ones in the wrong in his case.
However, this April settlement is only a guess by XRP community-friendly attorneys for now. Regardless, Ripple is now holding the upper hand in the XRP lawsuit.