The XRP community is building anticipation for the court's decision on the Ripple vs. SEC case, set for June 16. However, experts are urging caution.
Bill Morgan's Warning
Legal expert Bill Morgan advises XRP holders not to expect too much from the court’s ruling. He points out that Judge Analisa Torres previously rejected a similar joint motion from Ripple and the SEC very quickly. > "Perhaps you should not hope for that." > “It only took 7 days for Judge Torres to reject the last joint motion to modify the judgment to reduce the fine and dissolve the injunction.”
Price Speculations vs. Legal Reality
XRP Governor's claim suggesting XRP could rise above $5 if the motion is approved raises bullish speculation. However, Morgan's warning serves as a reminder that legal processes do not depend on price forecasts. XRP's price is influenced by various factors, including overall market sentiment and macroeconomic conditions. A favorable court ruling may enhance Ripple's legal standing, yet does not guarantee an immediate price increase.
Key Points for June 16
The current motion before the court seeks to finalize the penalty phase and potentially lift the injunction preventing Ripple from selling XRP to institutional investors in the U.S. While it’s a significant step toward concluding the years-long legal battle, it is not the dramatic conclusion some are expecting. The case began in December 2020, when the SEC filed a lawsuit against Ripple alleging that XRP sales were unregistered securities. In July 2023, Judge Torres issued a split ruling, finding that XRP sales on exchanges did not violate securities laws while institutional sales did.
As June 16 approaches, it is crucial not to confuse legal procedures with market momentum. A quick decision isn't always favorable, and expecting a $5 XRP based solely on a court filing could lead to disappointment.