Ripple Case Could Conclude in April: But There’s a Single Condition!

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Ripple Case Could Conclude in April: But There's a Single Condition!
  • If no resolution is found, the case outcome could extend into next year.
  • The final submission for resolutions in the case will conclude on April 29.
  • Today is the deadline for discovery regarding resolutions in the Ripple and SEC cases.

In the ongoing Ripple and SEC case that has been ongoing since December 2020, there is still no definitive outcome. Although Judge Torres mentioned in recent months that XRP sales might not qualify as securities in some instances, there is no confirmed victory for Ripple.

In this context, X user Ashley PROSPER emphasizes in a note shared regarding the Ripple case that February 20, 2024, is the extended deadline for resolutions in the Ripple and SEC cases. Additionally, Ashley noted that documents presented by Ripple would not be reviewed until March 13, when the SEC files its own.

In addition to these developments, Ashley suggests that Judge Torres is not expected to make a definitive decision in April either. Applications for resolutions in the case will conclude on April 29, 2024, and according to Ashley, the Judge will make a final decision after this date.

Bringing up the matter, Ashley sets her own prediction for July or August. However, despite this estimate, she also acknowledges that the decision might extend into next year. Ashley highlights that the only way for the case to conclude by April is through a settlement.

Despite Judge Torres stating that XRP tokens may not be securities in some instances, the SEC has objected to this decision and indicated its intention to continue the fight in the case. In addition, in a dialogue related to XRP token sales, Joel Katz mentioned that they had initially planned to distribute XRP assets through a giveaway method instead of sales, but it was unsuccessful.

Ripple’s XRP token has shown a 0.70% increase in the last 24 hours, trading at $0.56. The 24-hour trading volume has increased by 67%, reaching up to $1.3 billion.

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