There are many optimistic predictions about how the crypto industry might react if Ripple Labs (XRP) win their legal battle against the Securities and Exchange Commission (SEC).
Dan Gambardello, the founder of Crypto Capital Venture, predicts that the SEC vs. Ripple case, which according to high-profile defense lawyer James Filan could come to a conclusion by the end of March 2023, will have large implications for the cryptocurrency industry. Gambardello says that this could be a pivotal moment leading to the end of the bear market.
— Dan Gambardello (@cryptorecruitr) November 27, 2022
The timeline requires that motions for summary judgment in the SEC vs. XRP be replied to by Nov. 30, at which point all briefings will have been completed and a ruling from Judge Torres is expected.
The CEO of Ripple, Brad Gardlinghoues, believes that a settlement may be possible if the Commission considers XRP, Ripple’s native token, non-security. Garlinghouse has also stated that the landmark lawsuit will most likely be decided by a judge instead of a jury, which could mean that the case will have a quicker resolution.
Gardlinghoues has predicted that the case would be resolved in the first half of 2023.
Expectations remain optimistic
David Gokhshtein, former congressional candidate and founder of Gokhshstein Media, is hopeful that Ripple, a payment system company that uses blockchain technology to facilitate global payments, will win the SEC lawsuit for two reasons. First, it will bring much needed clarity to an uncertain situation. Second, the XRP community who fought hard and remained loyal despite difficult odds, will be justly rewarded.
On Sept. 21, Gokhshstein took to Twitter to say that if Ripple is victorious in their case against the SEC, then XRP and the entire cryptocurrency industry will see exponential growth.
If Ripple wins the case — the entire industry goes parabolic.
— David Gokhshtein (@davidgokhshtein) September 21, 2022
XRP lost more than 6% during today’s trading and changed hands at $0.3793, reducing its weekly gains by about 11%.
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!