Ripple Lawsuit: When Will It End?
A regional attorney and former district director at the U.S. Securities and Exchange Commission (SEC) believes that Ripple's long-standing battle with the agency will come to a conclusion within days. Marc Fagel, the former district director of the SEC's San Francisco office, emphasized during a recent event that the fight is nearing its end.
Responding to an XRP enthusiast who suggested that the SEC withdrawing its cases before summary judgment could potentially weaken the judge, Fagel stated that further delays in the decision would reinforce the claim that public relations were influencing the judge's ruling and create more confusion.
Attempting to avoid speculation, Fagel mentioned that the court's decision could come in the coming days. He also noted that any further delays in the case would likely stem from its complexity rather than any hidden agenda.
According to Fagel, Ripple's case differs significantly from other enforcement actions recently initiated by securities observers. He also stated that the judge is unlikely to address the Hinman documents or the issue of the secondary market.
Will XRP Coin Reach $10?
This case is critical not only for XRP but also for all altcoins that have the potential to be deemed securities. SEC Chairman Gary Gensler has repeatedly expressed his belief that all cryptocurrencies except Bitcoin are securities, signaling the Commission's intent to examine more crypto assets. He has also explicitly targeted ten popular altcoins in lawsuits filed against two major exchanges.
Attorney John E. Deaton previously estimated that there was a 3% chance of District Judge Analisa Torres ruling in favor of the #SEC. A possible victory for Ripple is the best-case scenario and could serve as a strong catalyst for the rising price of XRP, which has been happening for months. According to Deaton, if this occurs, the price of Ripple's #XRP could quickly rise to 10$
In order for the XRP price to reach that level, its market capitalization would need to exceed $500 billion. Considering that the cumulative value of cryptocurrencies is currently around $1 trillion, it doesn't seem reasonable. Therefore, it may be in the best interest of investors to consider more conservative targets, such as $1.
