The ongoing Ripple case, which has been a significant event for the crypto industry since the end of 2020, is still ongoing and has yet to reach a conclusion. The Securities and Exchange Commission (SEC) has been attempting to apply the Howey test broadly to classify all altcoins as securities, but their success has been limited thus far.
Updates on the Ripple (XRP) Case
The fight between Ripple and the SEC continues, and the court has recently confirmed new dates for legal briefings. This development, announced by attorney James K. Filan last month, marks a significant milestone. The SEC was required to submit its opening brief by March 22, and they have complied with this requirement.
The SEC, which is seeking a $2 billion penalty from Ripple, appears to be envious of the $4.3 billion settlement reached with Binance. Ripple will present its objections on Monday, April 22.
When Will the Ripple Case Conclude?
In July 2023, Judge Analisa Torres declared that sales to individual customers through exchanges are not considered securities, but institutional sales were classified as investment contracts. This summary judgment caused a sharp increase in the price of XRP Coin in July.
The case has been frustratingly prolonged, and the price of XRP Coin has not reached its all-time high (ATH) due to the increased circulating supply during the lawsuit. Even if the case concludes, it is unlikely that the price will reach the ATH zone again and strive for new highs without a significant surge in demand.
So, when will the Ripple case come to an end? Experts, considering the uncertain scope of the appeal processes that will follow, predict that the case will conclude in 2026. However, if the decision that secondary market sales are not securities is upheld, XRP Coin should not be classified as a security. While it may be possible to consider corporate sales as investment contracts, it is clear that the summary judgment favors Ripple.
In conclusion, XRP Coin is not a security, and if the appeal process does not completely overturn this decision, Ripple will have largely secured its victory. However, even under the most optimistic estimates, this process will take several months.
Disclaimer:
The information provided in this article should not be considered as investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks, and they should conduct their own research.
