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.

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.

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

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.

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.

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Source: https://thecryptobasic.com/2023/06/24/analyst-says-3-month-delay-in-sec-vs-ripple-ruling-creates-negative-perception-in-xrp-community/?utm_source=rss&utm_medium=rss&utm_campaign=analyst-says-3-month-delay-in-sec-vs-ripple-ruling-creates-negative-perception-in-xrp-community