A Turning Point in Ripple's Legal Battle?
Judge Phyllis Hamilton has requested that Ripple Labs, Brad Garlinghouse, and XRP II LLC consider a possible voluntary dismissal of the individual plaintiffs' claims. If the parties agree to this alternative resolution, they must submit a formal proposal before November 4, 2024. However, if an agreement is not reached, the court will proceed with the scheduled trial in January 2025, where crucial decisions could be made regarding the future of XRP and its status in the market.
What Does This Mean for XRP Investors?
This development has left many investors and analysts in suspense. The pre-trial conference is scheduled for December 19, 2024, and jury selection and the jury trial are set for January 21, 2025. The lead plaintiffs have expressed their intention to appeal any ruling against them, which could prolong the case in the U.S. Second Circuit Court of Appeals, where the SEC has already filed its appeal against Ripple and its executives. This process will not only affect public perception of XRP but could also reshape regulations surrounding cryptocurrencies in the U.S.
Market Implications: XRP Remains Stable But with Expectation
Despite the legal uncertainty, XRP has shown surprising resilience, trading around $0.52. Although it has experienced a monthly decline of 17%, activity in the derivatives markets remains high, indicating growing investor interest. This case could lead XRP to new highs or significant revaluations, depending on the next steps in this legal battle.
