XRP News Today: Ripple vs. SEC: 70% Chance of Case Resolution, Judge Decision Awaited

Pro-XRP lawyer John Deaton recently shared his insights on why Judge Analisa Torres hasn’t fully concluded the Ripple vs. SEC lawsuit, despite the growing support for crypto in the U.S., including from Donald Trump. Deaton explained that while the crypto world is advancing, with discussions about making the U.S. a crypto leader and new stablecoin regulations on the horizon, Ripple remains under a legal cloud. The SEC previously accused Ripple of selling XRP as an unregistered security, and although Ripple won a partial victory last year, there’s still an injunction hanging over the company.

Ripple seeks to resolve this issue permanently as it affects their business deals and partnerships. Major companies and banks might opt to work with other firms like Circle instead of Ripple to avoid legal complications. Deaton suggests there’s about a 70% chance the judge will eventually approve Ripple’s request to end the case and reduce its fine from $125 million to $50 million. However, it’s not guaranteed. Judges must adhere to the law meticulously, and asking a judge to change a ruling isn’t straightforward, especially when the SEC had initially pushed for severe penalties against Ripple.

Another concern is the political landscape. Deaton noted that if future elections shift power to anti-crypto lawmakers, new regulators could bring fresh challenges for Ripple and the crypto industry. Deaton also expressed disappointment that Ripple’s legal team didn’t emphasize more on how the prolonged case affects everyday investors and the broader market. Even Ripple CEO Brad Garlinghouse recently admitted he’s a bit uneasy, despite lawyers assuring him not to worry.

In the end, Deaton believes that Judge Torres will likely approve Ripple’s request to avoid wasting court time and resources if Ripple continues appealing. However, he acknowledges it’s a complex situation, and while Ripple’s legal team seems confident, he personally would have pushed harder. The ongoing legal battle between Ripple and the SEC has reached a pivotal point, with the community awaiting a decision from Judge Analisa Torres. The anticipation follows a recent post suggesting a ruling could be imminent on June 16, sparking optimism among XRP holders. Legal expert Bill Morgan cautioned against high expectations, pointing to historical precedents and the court's handling of similar motions.

Morgan, a respected lawyer and cryptocurrency legal analyst, reminded the community that Judge Torres swiftly rejected a previous joint motion filed by both Ripple and the SEC. This motion sought to modify the judgment to reduce the fine and dissolve the injunction, but was denied in just seven days. Morgan’s concern is that a quick ruling on the current motion could indicate the judge is not inclined to alter her original judgment. This mirrors the court’s earlier rejection of a joint request from Ripple and the SEC to reduce Ripple’s penalties and dissolve the ban on certain XRP sales.

The motion currently before the court seeks to finalize the penalty phase of the case and potentially lift the injunction that prevents Ripple from selling XRP to institutional investors in the U.S. While this is a significant step in the multi-year legal battle, it is not the dramatic conclusion that some are anticipating. The case began in December 2020 when the SEC sued Ripple for allegedly selling XRP as an unregistered security. In July 2023, Judge Torres issued a split ruling, finding that XRP sales on exchanges did not violate securities laws, but institutional sales did.

As the June 16 deadline approaches, Morgan’s advice is both timely and necessary: don’t confuse legal procedure with market momentum. A quick decision isn’t always a favorable one, and expecting a significant price surge based solely on a court filing could lead to disappointment. XRP’s market performance is influenced by a wide range of factors, including broader market sentiment, macroeconomic conditions, and regulatory clarity. A positive court ruling could enhance Ripple’s legal position, but it doesn’t necessarily promise a dramatic price surge, given the crypto market’s volatility.

The legal battle between Ripple and the SEC has been ongoing for over four years, with both parties recently filing a joint motion to settle. Attorney John Deaton has estimated a 70% likelihood that the judge will grant the motion, but Morgan’s warning serves as a reminder that legal processes don’t operate on price predictions. Even if the motion were granted, it wouldn’t necessarily trigger an immediate or sustained rally. The community’s excitement is understandable, but it is essential to approach the situation with a balanced perspective.