XRP Community Looks Out For Judge Torres Decision This Week

A settlement agreement between the United States Securities and Exchange Commission (SEC) and blockchain payment platform Ripple is expected to come this week. 

Penalties And Injunctions in Ripple vs SEC Lawsuit 

Judge Analisa Torres is in the middle of deliberations, trying to come up with a final judgement for the years-long case between the regulator and the crypto company. 

Torres has to determine penalties and injunctions related to the case. Fred Rispoli and James Murphy is hopeful that her decision will come in early August. This is pending motions before Judge Sarah Netburn could delay the process. So far, the odds are in the favour of Ripple as it has seen a number of victories since the case began. This leaves the SEC in a complex position. 

Will Ripple or SEC Appeal Ruling?

A few other observers and legal experts do not see the end coming for this XRP case. Both Ripple and the SEC could decide to appeal previous rulings and this move will lead to an extension of the lawsuit. Still, crypto enthusiast Mickle thinks this lawsuit with Ripple is the SEC’s weakest case ever. As a result, he does not think an appeal from the regulator is likely. 

Whatever the outcome of the Ripple vs SEC lawsuit, it would have a ripple effect on the crypto payment firm and the broad crypto industry. Since the case began more than three years ago, XRP faced a market crunch. This includes delistng the token from several exchanges like Coinbase and others. Judge Torres’ ruling a year ago saved XRP from potential extinction. 

Upon ruling that XRP is not security, the crypto saw a revival in its affairs. 

Ripple May Not Survive Unfavourable Ruling

However, if the decision goes in favour of the SEC this time around, XRP could face relegation once again. The impact will flow to Ripple business operations as well as its relationship with the SEC. Monetary penalties may not affect the company significantly but an injunction has detrimental implications. 

In the meantime, the XRP community are monitoring the development and anticipating the direction that the lawsuit would take. The XRP token is currently signaling a bear move with a 0.86% drop in the last 24 hours. At press time, XRP traded at $0.6012.