In the ongoing legal battle between **Ripple** and the **SEC**, both parties have jointly requested the Second Circuit Court to pause the appeals process until the district court makes a ruling. The SEC is due to provide a status report to the court by August 15.
Following a recent plea on June 12 by Ripple and the SEC to remove the injunction and lessen the penalty, the final decision now rests on the district court’s response to this request.
If the proposed settlement is approved by the court, it could bring a definitive end to the case. Conversely, if not approved, further delays might be encountered. All attention is now focused on the anticipated mid-August update.
An expert has shared insights that the SEC has resubmitted the motion to Judge Torres, and her decision will shape the upcoming course of action. Notably, Judge Torres has responded swiftly in the past, with a decision possibly arriving within a week.
Marc Fagel, a former SEC official, highlighted the time-consuming nature of drafting legal opinions, underscoring that the judge has multiple cases to consider.
There is speculation about whether the case will revert to Judge Torres if the refiled motion is turned down. This scenario might reignite discussions within the **XRP** community.
Fagel noted the uncertainty surrounding the judge’s potential modification of her previous order, indicating that the outcome could swing either way.
The fate of the case now hinges on Judge Torres’ decision. Approval of the motion could bring the case to a close, while rejection might trigger a fresh round of appeals and ensuing conjecture within the community.
The resolution of this legal tussle could have a positive impact on **XRP**’s value and pave the way for the approval of spot **XRP ETFs**. Presently, **XRP** is trading at around $2.22, reflecting a 1% increase over the past day.
Note: Investments carry market risks. Please invest carefully. We do not accept responsibility for any financial losses.
