The ongoing Ripple case, which has been significant for the crypto industry, has yet to reach a conclusion since the end of 2020. The Securities and Exchange Commission (SEC) has been attempting to classify all altcoins as securities using the Howey test, but has not achieved full success thus far.
Updates on the Ripple (XRP) Case
The fight between Ripple and the SEC continues, with the court confirming new dates for legal briefings. Last month, attorney James K. Filan announced these developments, marking a significant milestone. The SEC had a deadline of March 22 to submit its opening brief, which it has done.
The SEC, which is seeking a $2 billion penalty from Ripple, appears to be envious of the $4.3 billion settlement with Binance. Ripple will now present its objections on Monday, April 22.
When Will the Ripple Case Conclude?
In July 2023, Judge Analisa Torres declared that sales to individual customers through exchanges are not considered securities, but institutional sales were classified as investment contracts. This summary judgment caused a sharp increase in the price of XRP Coin in July.
The case has been frustratingly prolonged, and the price of XRP Coin has not reached its all-time high (ATH) due to an increased circulating supply during the lawsuit. Even if the case concludes, it is unlikely that the price will reach the ATH zone again and reach new peaks without a significant surge in demand.
So, when will the Ripple case come to an end? Experts, considering the undefined scope of the appeal processes that will follow, predict that the case will conclude in 2026. However, if the decision that secondary market sales are not securities remains upheld, XRP Coin should not be classified as a security. While it may be possible to consider corporate sales as investment contracts, it is clear that the summary judgment favors Ripple.
In conclusion, XRP Coin is not a security, and if the appeal process does not completely reverse this decision, Ripple will have largely secured its victory. However, even under the most optimistic estimates, this process will take months.
Disclaimer:
The information provided in this article should not be taken as investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry a certain level of risk, and should conduct their own research.
