Crypto lawyer Fred Rispoli has stirred excitement in the XRP community by hinting at a possible resolution in the long-running legal battle between Ripple and the SEC. Rispoli, known for his pro-XRP stance, suggests a verdict from Judge Analisa Torres could arrive by the end of July.
This news comes as a welcome relief for XRP holders, who have been closely following the lawsuit’s developments for over three years. The case hinges on whether XRP is classified as a security under US regulations. A favorable ruling for Ripple could pave the way for wider adoption and a potential price surge for XRP.
Rispoli’s prediction stems from a recent filing by Ripple referencing a similar case involving Binance. This filing suggests Ripple believes the SEC’s arguments against XRP mirror those used against Binance, which were ultimately dismissed.
While Rispoli cautions there’s no immediate ruling yet, he playfully speculates on potential dates. “July 31st,” he proposes, “although I could see her doing July 13th to be poetic.” The latter date marks the anniversary of a 2023 ruling by Judge Torres that benefitted XRP’s price.
The case is currently in the remedies phase, where the SEC seeks a hefty fine against Ripple. While the SEC initially demanded nearly $2 billion, it has since lowered its request to $103 million. Ripple maintains the penalty should be far lower, at around $10 million.
The coin market responded with a muted reaction to Rispoli’s prediction, with the price dipping slightly at the time of writing. However, a definitive verdict from Judge Torres, especially one favoring Ripple, could trigger a significant price increase for XRP.