The U.S. Court of Appeals has set some crucial dates in the ongoing legal battle involving Ripple, raising the anticipation surrounding the case. The SEC’s appeal against Ripple faces potential setbacks due to the looming threat of a government shutdown, which could disrupt the entire legal proceedings.
As the spotlight shifts to this case, the court has outlined significant deadlines. Plaintiff Bradley Sostack will need to submit a Mediation Questionnaire by December 23, aligning with the SEC’s schedule. Following that, an Appeals Transcript Order is expected by December 31, with the complete transcript due by January 30. These deadlines are pivotal as they pave the way for Sostack’s opening brief on March 6, 2025, where he will lay out his allegations against Ripple and its CEO, Brad Garlinghouse. Ripple’s response is due by April 7, 2025, emphasizing the importance of adhering to these timelines—failure to comply could lead to dismissal of the appeal.
Despite recent rulings favoring Ripple, Sostack shows no signs of backing down. A recent decision by Judge Phyllis Hamilton allowed for amendments in the judgment while keeping the case active. Although both parties acknowledged that previous class claims had been resolved, the battle continues, highlighting a persistent struggle amid shifting legal tides.
The SEC, a significant player in this drama, is grappling with its own hurdles. The potential U.S. government shutdown, stemming from budgetary constraints, casts a shadow over the SEC’s ability to meet its filing deadlines. While some experts argue this could temporarily lighten the pressure on Ripple, any delays might prolong the uncertainty surrounding XRP’s regulatory status.
With Ripple steadfast in its defense and the SEC contending with its hurdles, the path forward remains rocky. Observers are left pondering what implications these developments will have on the XRP market.
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Frequently Asked Questions
Did Ripple win the lawsuit?
Ripple (XRP) has achieved a degree of regulatory clarity in the lawsuit, which has contributed positively to its price momentum.
What might XRP’s value be by the end of 2025?
Forecasts suggest XRP could reach a high of $3.99, with an average value around $3.07.
What is the current value of XRP?
As of now, 1 Ripple token is priced at approximately $2.32.
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