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Breaking! XRP lawsuit sees a new turn! Ripple faces heavy pressure and may need to reconsider the settlement plan⚠️
Ripple and XRP are at a critical moment, as a U.S. court has made new demands on Ripple Labs, CEO Brad Garlinghouse, and key executives, suggesting they explore other settlement options in the ongoing lawsuit. This unexpected turn may change the legal landscape for XRP and impact its market prospects.
Court directive: Reconsider the solution
Ripple's efforts to achieve a final judgment on the class action claims have been hindered. Judge Phyllis Hamilton suggested an "unconditional dismissal," which means that after the class action appeal process ends, claims may be refiled in individual names, increasing uncertainty.
🗓 Key deadlines and compliance requirements
Ripple must submit a revised order or indicate its refusal to settle by November 4.
Please note:
Pre-trial meeting: December 19, 2024
Jury selection and trial: January 21, 2025
Meanwhile, the U.S. Securities and Exchange Commission (SEC) is attempting to revive charges against Garlinghouse and co-founder Chris Larsen, with an expected final submission by January 15, 2025.
Ripple's strategic choice: Which way to go?
If Ripple chooses this alternative solution, it may avoid a lengthy lawsuit and alleviate market panic. However, if it refuses, the legal confrontation may escalate, increasing XRP's volatility and uncertainty.
XRP's fate hangs in the balance, and Ripple's next actions may impact the future of cryptocurrency regulation in the U.S.
XRP price: $0.5213 (-0.78%)
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