According to U.Today, attorney Fred Rispoli, well-known among XRP enthusiasts, has predicted two potential dates for the resolution of the SEC's case against Ripple. This case has had a significant impact on the popular cryptocurrency. Rispoli anticipates the verdict to be delivered on the last day of July, after more than three years of legal proceedings. However, he also suggested that a more symbolic date for the verdict could be July 13.
This date holds significance as it marks the anniversary of last year's ruling when Judge Torres recognized XRP as a non-security. This decision led to a 100% surge in the cryptocurrency's price within a few hours. Currently, the parties involved in the case are disputing the amount of damages. Ripple suffered a blow when sales to XRP institutions were deemed as unregistered sales of securities, and the company is now required to pay remedies.
The size of the disgorgement is a major point of contention in the lawsuit. The SEC is demanding billions of dollars, while Ripple is willing to settle for no more than $10 million. Despite the ongoing legal battle, Ripple maintains a strong defense, arguing that the SEC's demands are disproportionate and lack merit.
