The litigation between Ripple and the Securities and Exchange Commission (SEC) has reached a rare state of calm, leaving many observers perplexed.
Fred Rispoli, a direct participant in this legal showdown, has expressed surprise at the lack of discovery moves by the SEC, given the hostile and adversarial nature of the case so far.
#XRP #XRPCommunity#SECvsRipple has been quiet…too quiet? Completion of damages-related discovery is Feb. 12. I'm surprised we haven't seen any SEC discovery motions filed given how hostile this litigation has been. I would expect to see one filed at least a week or so…1/3
— Fred Rispoli (@freddyriz) January 8, 2024
Rispoli notes that the deadline for discovery related to damages is right around the corner, scheduled for February 12, 2024, and highlights the notable lack of motions being filed before this crucial date.
The lack of action by the SEC has led Rispoli to speculate on possible future scenarios for Ripple
It raises two main outcomes: one, where the SEC finally obtains the discovery it seeks, reviews the information obtained and, as a consequence, the parties finally agree to resolve the conflict.
In contrast, the second scenario paints a picture where the prolongation of the litigation extends until the phase of arguments on damages, which concludes on April 29.
From this perspective, a ruling could be imminent in the coming months of this year.
Rispoli’s most intriguing observation is his suggestion that the lack of action could indicate a possible truce or cooperation between Ripple and the SEC, which could lead to a settlement rather than an unnecessary prolongation of the litigation.
Rispoli also highlights Ripple’s performance in the litigation so far, mentioning the successive successes achieved by the company.
This includes a ruling that XRP is not a security under the law and the dismissal of all remaining allegations against Ripple’s top executives.
This positive streak could be working in Ripple’s favor in terms of pushing towards a possible deal, according to Rispoli’s observations.
In a speculative turn, Rispoli posits that the SEC might be tempted to seek an easier, more beneficial resolution, given its string of recent losses in court, including a potential significant defeat against Coinbase.
As the case between Ripple and the SEC approaches a crucial milestone, the surprising lack of legal action by the SEC has sparked debate and uncertainty about the direction this confrontation could take.
The coming weeks could be decisive for the outcome of this legal dispute that has kept the cryptocurrency community and XRP investors in suspense.
