BENGALURU, Karnataka – The ongoing battle between XRP and the Securities and Exchange Commission is still far from reaching an absolute or agreeable resolution. The case started in December 2020. The SEC is still making its signature move in this case: delaying tactics.
This time, though, Ripple, the SEC, and individual defendants Brad Garlinghouse and Christ Larsen agreed to this motion for reconsideration. The agreement stated that it would include summary judgment for excluding testimonies from experts, and it should be filed on or before the 2nd of August of this year. Closing briefs are also scheduled to be held by the 22nd of December this year.
If you are an XRP holder, you might relate to other buyers suffering great losses due to this ongoing case, but it’s very unlikely that Ripple will be backing down from this fight. If the two parties are to reach any resolution, surely, it will not be within this year. Hopefully, by 2023, there will be progress in this lawsuit.
Stuart Alderoty, Ripple’s General Counsel, has taken Twitter his gratitude to all the people who have seen and are continuing to see this case. He also assured the holders that Ripple is pushing against all currents to resolve this case even if the SEC continues to use delaying tactics.
A partner from Hogan and Hogan Law firm, Attorney Jeremy Hogan, expressed dismay at this case’s delays and scheduling order. He said that Ripple’s case could be likened to LBRY’s. The Securities and Exchange Commission also sued LBRY for breaking the laws. Regardless, Ripple has again suffered another loss as it is now trading around $0.71, which is a major 3% correction.
According to James Filan, agreeing to extend the case again might be a smart move by XRP, as it will allow it to be more deliberate in the action that it will take than if it pushed through the case in the past.