XRP Lawsuit: Attorney John Deaton and Ripple CTO David Schwartz expect a summary judgment by Judge Torres before or in September as the XRP community grows impatient over the delay in the Ripple vs US SEC lawsuit. Some even argue that there is something strange going on with the lawsuit, as it has now gone seven months without a ruling.
XRP attorney Deaton and Ripple CTO on summary judgment
John Deaton on July 11 revealed some facts about how much Judge Analisa Torres unusually takes to decide on lawsuits. The XRP community awaits Judge Torres’ decision as Ripple and US SEC responses were filed in December. Although it’s been 7 months, Ripple isn’t the only case before Judge Torres. He said the Thor Equities case’s answering papers were also filed in December and Judge Torres has not yet issued a ruling.
However, he revealed that Judge Torres took 7 months in Quiller Inc vs US to announce her decision, and 6 months in the Fitzgerald case and several other cases. Deaton believes there is a significant chance of reigning this month as it has taken her just as long.
Also Read: Ripple Bags Rare Award for its Role in CBDC Innovation
Ripple CTO David Schwartz replied to Deaton, saying he believes a verdict on summary judgment could come in late September.
“I know waiting is annoying and we would all like to have a ruling on summary judgment as soon as possible, but I wouldn’t think anything was wrong, unusual or strange until at least the end of September.”
Deaton says he agrees with Ripple CTO David Schwartz as Judge Torres’ decision has never been pending for more than 9 months. Deaton said he didn’t review every case, but found “none that were longer than 9 months (although one was slightly longer than 8 months).”
XRP price is up 2% in the last 24 hours with the price currently trading at $0.47. The 24-hour low and high are at $0.466 and $0.480, respectively. In addition, the trading volume has increased by 75% in the past 24 hours, indicating interest among traders. CoinGape Markets analysis predicts a breakout of a bull flag pattern above $0.5 in the coming days.
Also Read: $500 Million Crypto Asset Inflows Cause Bulls To Retake $50,000 Bitcoin (BTC) Price
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Varinder has 10 years of experience in the Fintech sector, with more than 5 years dedicated to blockchain, crypto and Web3 developments. A technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles and newspapers. With CoinGape Media, Varinder believes in the enormous potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
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