Ripple vs. SEC Lawsuit: Summary Judgment Awaited, Delays Cause Frustration in Crypto Community

The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has captured significant attention within the crypto community. One highly anticipated event is the Summary Judgment, which carries potential implications for the future of XRP. However, frustration mounts as the wait for the crucial ruling has exceeded 100 days, leaving many anxious for Judge Analisa Torres’ verdict.

Summary Judgment: A Pivotal Moment in 2023

The Summary Judgment in the Ripple lawsuit has become a pivotal event within the crypto market this year. On March 6, 2023, Judge Analisa Torres heard motions from both Ripple and the SEC. However, more than 100 days have passed since then, prolonging the anticipation for the Summary Judgment. Ripple’s management has expressed confidence that a final ruling may be reached by the end of 2023, although speculation arises regarding the possibility of an earlier judgment.

XRP’s Price Recovery and Shifted Focus

In the first quarter of 2023, the price of XRP exhibited signs of recovery, reaching $0.54 by the end of March. However, recent attention in the XRP lawsuit has shifted towards the documents associated with the Hinman speech, generating numerous questions within the crypto community. Presently, XRP is valued at $0.44, experiencing a 0.90% decrease in the last 24 hours and a 1.43% decline from the previous week.

Ruling Judgment: 100 Days and Counting

Notably, more than 100 days have elapsed since the last ruling, leading some to consider the average time taken by federal judges to deliver summary judgments. An analysis conducted by the University of Denver on civil case processing in federal courts indicates that the mean time to rule on summary judgment motions is approximately 166 days. However, there exists significant variation across courts, with the fastest court averaging 63 days and the slowest court averaging 254 days.

Implications for the XRP Lawsuit Verdict

Given the average time taken for summary judgments, it is unlikely that the final ruling will be delivered within the third quarter of 2023. This has provoked frustration among members of the crypto community who perceive the judge as taking too long to reach a decision. Concerns have been raised regarding the potential impact of this prolonged wait on people’s confidence in the justice system.

Despite the seemingly endless wait, it is crucial to consider the typical time required for such decisions. It is important to maintain faith in the judicial system and patiently await the ruling that will determine the outcome of this high-profile case, even if the delay has caused frustration. CryptoBull, for example, believes that the delay is eroding trust.