In a significant development, the U.S. court has instructed Ripple Labs, CEO Brad Garlinghouse, and senior executives to consider an alternative approach to resolving the ongoing lawsuitāa move that could substantially impact XRPās future.
Court Directive on Resolution
Rippleās bid for a final ruling on class action claims took an unexpected turn. Judge Phyllis Hamilton issued a directive for Ripple and the plaintiffs to contemplate a āvoluntary dismissal without prejudice.ā This means the claims could potentially be refiled individually after a class action appeal, introducing additional uncertainty to the proceedings.
Timeline and Compliance Mandate
The court specified: by November 4, Ripple and the involved parties must either submit an amended proposed order or communicate their decision not to comply.
Critical Upcoming Dates
Pretrial Conference: December 19, 2024
Jury Selection and Trial: January 21, 2025
Additionally, the SEC's efforts to restore charges against Ripple executives Garlinghouse and Larsen are advancing, with final briefings expected by January 15, 2025.
Rippleās Strategic Decision: Potential Outcomes
Should Ripple accept the alternative resolution, XRP might bypass a prolonged court conflict, potentially averting market panic. Conversely, rejecting this directive could intensify the case, exposing XRP to greater legal risks and market volatility.
The stakes continue to rise, with XRPās trajectory hanging in the balance.
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