In the latest development, Ripple has scored a legal victory in the ongoing In re Ripple Labs Inc. litigation. A US court has ruled in favor of Ripple Labs, XRP II LLC, and Brad Garlinghouse, significantly limiting the case and setting up a trial for January 2025.
The End of Lawsuit Soon?
This marks a huge milestone for Ripple and could speed up the end of the lawsuit. The judge has set the trial date for January 21, 2025, dismissing earlier pretrial dates. The court will declare new dates after the resolution of appeals of the class claims.
Implications on the Ripple vs SEC Case
The Ripple case has implications for the SEC v. Ripple Labs case where the U.S. SEC is accusing Ripple of violating federal securities laws. Ripple’s win could further enhance confidence in their stance against the SEC. Legal experts and Ripple CTO David Schwartz believe that a dismissal or settlement is possible. Attorney Fred Rispoli stated that while a settlement appears more realistic, a full dismissal might be unlikely.
Gary Gensler To Exit Soon?
With Trump’s inauguration set for January 20, pro-XRP attorney James Murphy believes Gensler may vacate his post as early as this month. Gensler’s potential resignation and a pro-crypto replacement could fuel a significant market resurgence.
Ripple’s court victory and potential changes in SEC leadership might spur developments in the cryptocurrency industry in the near future.
