Eminent pro-XRP attorney Fred Rispoli has put forward two speculative timelines regarding when Judge Analisa Torres might deliver the final judgment in the ongoing legal battle between the SEC and Ripple.
In a recent post related to X, Attorney Rispoli predicted that Judge Torres might issue the ruling this month, specifically pinpointing July 31 as the potential date. He also suggested the possibility of the ruling coming on July 13, citing it as a choice ‘to be poetic.’
Rispoli’s analysis indicates that while July 31 seems to be the more probable date for the final verdict, the significance of July 13 within the XRP community could serve as a motivating factor for Judge Torres to render the decision earlier than expected.
July 13th holds particular significance as it marks the day when Judge Analisa Torres delivered the much-anticipated summary judgment decision. In this decision, the court determined that XRP itself is not a security and that Ripple did not breach federal securities laws through its programmatic sales and other distributions. However, the court ruled in favor of the SEC on the matter of institutional sales of XRP, deeming them a violation of Section 5 of the Securities Act.
The current status of the lawsuit sees this violation undergoing litigation in the remedies phase. Following Ripple’s breach, the SEC sought a $1.95 billion fine and a permanent injunction, while Ripple aims to limit the penalty to no more than $10 million. Although the parties submitted remedies-related briefs in May, Ripple has since filed two notices of supplemental authority, drawing on the decisions involving Binance and Terra to push back against severe penalties. The exact penalty that Judge Torres might impose on Ripple for its institutional sales of XRP remains uncertain.
In addition to Attorney Rispoli, well-known crypto entrepreneur and Dizer Capital founder Yassin Mobarak also speculated that Judge Torres could reach a final judgment this month. Mobarak highlighted July as a significant month for major decisions in the lawsuit, referring to past events over the last two years. Notably, he mentioned instances in July 2022 and July 2023 where pivotal decisions were made related to XRP, coinciding with his overseas vacation plans.
Mobarak’s upcoming vacation plans hint at a potential alignment with the timing of significant XRP-related decisions from the court. This correlation between his vacations and the timing of key rulings suggests a possible indication of the final verdict being delivered soon.
Disclaimer: This information is provided for educational purposes only and should not be considered financial advice. The opinions expressed in this content are personal views of the author and do not necessarily reflect those of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic holds no liability for any financial losses incurred.
