Analyst Says 3 Month Delay in SEC vs. Ripple Ruling “Creates Negative Perception in XRP Community”

CryptoBull said the delay regarding the final verdict of the SEC vs. Ripple lawsuit is hurting XRP enthusiasts’ confidence in the justice system.

XRP enthusiasts have expressed frustration following the judge’s delay in issuing a summary judgment decision to resolve the lawsuit between the SEC and Ripple.

Prominent cryptocurrency analyst CryptoBull is the latest to express frustration about the development. In a tweet yesterday, the famous cryptocurrency analyst said the continuous delay is hurting people’s confidence in the United States judicial system.

“The fact that it takes Judge Torres this long to rule in the SEC vs. Ripple case hurts the people’s confidence in our Justice System,” said CryptoBull.

The analyst pointed out that the summary judgment decision has now taken three months beyond the date speculated by many legal experts, referring to the March 31 prediction by attorney James K. Filan.

CryptoBull added that Judge Torres’ decision to delay the ruling is creating a negative perception in the XRP community.

The fact that it takes Judge Torres this long to rule in the SEC vs #Ripple case hurts the people’s confidence in our Justice System.

We are now almost three months beyond the ruling date expected by many experts. This creates a negative perception in the #XRP community.

— CryptoBull (@CryptoBull2020) June 23, 2023

Ex-SEC Director & XRP Enthusiasts React

Meanwhile, CryptoBull’s assertion stirred reactions from XRP community members. As expected, many XRP faithful also condemned the delay.

A Twitter user described the development as disheartening.

She took too long no matter her ruling, this is disheartening. Not cool judge Torres not cool at all…

— cryptofunn1.GaryGenslerResign (@cryptofunn1) June 23, 2023

Other XRP enthusiasts also took to the comment section to express their frustration.

Her delay must be due higher above. A non independent judge, speaks volumes of American justice. Oh well since when American is well known for that 😏

— Prof. Smalltimer (@RJinvestcoin) June 23, 2023

It’s dodgy as hell !! Something bigger cooking behind the scenes. Delays for what?

— Lyndon Wood ✌️👽🙏 (@Lyndonx) June 24, 2023

Interestingly, former SEC director Marc Fagel took to the comment section to join the conversation. According to Fagel, there is nothing unusual about the delay, as the average federal summary judgment ruling takes about six months.

He pointed out that the ongoing SEC vs. Ripple lawsuit is more complex than most cases. Hence, the judge has decided to take her time to analyze the relevant facts before releasing the ruling.

The average federal summary judgment ruling takes about 6 months, so there’s nothing unusual here (and this is a more complex case than most). Yes, many of us have read the tea leaves and anticipated something sooner, but welcome to the reality of an overstretched legal system.

— Marc Fagel (@Marc_Fagel) June 23, 2023

It is worth noting that Fagel’s prediction for the lawsuit’s end date did not come through. As reported, the former SEC director speculated on June 16 that the SEC vs. Ripple lawsuit would be resolved within days. It has been over a week, and Judge Torres has not yet ruled.

Meanwhile, top XRP community member Mr. Huber has previously commented on the delay regarding the final verdict of the case.

According to Mr. Huber, the delay could strengthen the argument that XRP community members influenced the judge’s ruling.