The trial between Ripple and the SEC is progressing, with Ripple expected to respond to SEC motions by early May as per a new scheduling order by Judge Sarah Netburn. Attorney Jeremy Hogan predicts a possible conclusion to the lawsuit by summer, with Ripple potentially facing a $100 million settlement.
What's Next:
- Ripple and the SEC are in the trial phase, with Judge Netburn issuing a new scheduling order.
- The SEC must file its response by April 29, followed by Ripple's reply within three business days.
- Judge Netburn's previous favorable stance toward Ripple's XRP token gives hope for a favorable outcome.
Possible Scenarios:
- Hogan anticipates the lawsuit could be closed by summer, with a potential $100 million settlement.
- Previously, the SEC sought a $2 billion fine, while Ripple argued against XRP being classified as a security.
- Ripple's chief legal officer suggested a penalty of no more than $10 million.
For more details on the legal battle and its implications, watch our dedicated video.