The disputes surrounding the SEC's case against Ripple have generated confusion within the XRP community. While some believed the SEC had ceased its fight, the legal situation remains uncertain.
Community Confusion Over XRP
A recent tweet from Ripple's Chief Legal Officer, Stuart Alderoty, sparked a wave of optimism among XRP supporters. It suggested that the SEC had completely dropped its fight against Ripple. This led to the belief that the SEC had also dropped legal actions against other crypto companies in the U.S.
Bill Morgan's Perspective
XRP lawyer Bill Morgan quickly responded, noting that the SEC's appeal is not over but is currently in abeyance. He explained that the next steps depend on Judge Torres, who must provide a clear indication known as an 'indicative ruling.' If the judge issues a positive ruling, the case could move towards a settlement, otherwise, Ripple may continue with its cross-appeal.
Caution Among XRP Community
In his remarks, Morgan cautioned the XRP community against premature celebrations. He pointed out that the lawsuit has been unfair from the outset, referring to it as a 'horrible anti-retail investor' case, highlighting its adverse effects on everyday crypto users. While the SEC has stepped back for now, the ultimate outcome remains unclear until the judge makes her final ruling.
Thus, the situation surrounding the XRP case remains complex and uncertain. An escalation of the conflict is possible if the judge does not provide a clear decision, continuing to raise concerns among crypto investors.
