New forecasts on the current legal dispute between Ripple and the US Securities and Exchange Commission have been made by attorney John Deaton, the founder of CryptoLaw. The lawyer, who represents more than 75,000 XRP token owners in the Ripple v. SEC lawsuit believes that the Summary Judgement might be issued within 60 days of the Daubert motion decision.
“We are about five weeks since she delivered the Daubert ruling and the Summary Judgement could come out any time now. May 6 would put us at 60-day mark, before which there is a possibility of the judgement”
Deaton claimed that since the prolonged lawsuit has received a lot of attention from proponents of cryptocurrencies, the judge “feels morally obligated to have to address those issues even though she technically doesn’t.” Because Judge Torres is a “great Judge,” according to Deaton, she won’t want to put off making a ruling about XRP secondary market transactions.
“I say that just because of amicus briefs from XRP holders, Coinbase amicus, Blockchain Association, Chamber of Digital Commerce, SpendTheBits, TapJets, I-Remit, and a slew of others.”
According to attorney Jeremy Hogan, Ripple will triumph in the SEC litigation if the judge (or her law clerk) is knowledgeable about cryptocurrency. On the contrary, if the judge doesn’t know what a “crypto” is, that is a “line in the sand” that disqualifies him or her from hearing the case.
He said that the cryptocurrency is decentralized since no one owns the “community,” therefore it makes sense that someone may purchase XRP as an investment without entering into a contract with anyone.
While traders and analysts are bullish about the XRPs trajectory, the outcome of the protracted case may have a huge impact on the future of the cryptocurrency market.
Source: https://coinpedia.org/ripple/ripple-vs-sec-lawsuit-verdict-might-be-issued-before-may-6-says-pro-xrp-lawyer/