In a recent development in the world of cryptocurrencies, the judge handling the case between Ripple and the SEC made a decision that sparked heated conversations in the halls of justice. The SEC’s motion to appeal Ripple’s victory was categorically denied. This step, which took place on October 3, 2023, under the leadership of judge Analisa Torres, solidifies Ripple’s position in this legal process.

After the news, the price of the Ripple token traded close to $0.55 with more than 6% increase. At the time of publication, the price of XRP was listed at US$0.545414, up 6% in the last 24 hours.

While many expected a lengthy legal battle, the decision accelerated the timeline. The SEC attempted a delay, but even that was deemed moot and denied. The community of crypto enthusiasts remains open-eyed, awaiting the start of the hearing at 9am on April 23, 2024.

The court, demonstrating its efficiency, has already established several deadlines that the parties involved must strictly follow. To begin with, by December 4, 2023, both parties must comply with all pretrial requirements. This includes the filing of the joint pretrial order, indictment motions, decision form, and voir dire questions.

Not only that, but both parties are also required to present copies of all requested documents for acceptance in court, maintaining the same deadline. Leaving little room for error or delay, attorneys for both sides were also instructed to mark their calendars for April 16, 2024, at 2:00 p.m., for a final pretrial conference.

This sequence of events represents a breakthrough for Ripple, especially considering the legal rollercoaster it has faced with the SEC. The mood is one of cautious optimism, with many in the cryptocurrency space seeing this as a positive step not just for Ripple, but for the legitimacy and general acceptance of cryptos in the market.

XRP chart today


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


Leave a Reply