Ashley Prosper says while a settlement in the Ripple v. SEC case could happen at any time, Judge Torres might issue a final ruling between July and September.
As the XRP community awaits the SEC’s remedies-related reply in the Ripple lawsuit, prominent crypto commentator Ashley Prosper has outlined upcoming stages of the case, including a potential settlement and final ruling timeline.
Potential Timeline for Final Ruling
Prosper pointed out that the U.S. Securities and Exchange Commission (SEC) will file its final reply in the remedies phase today, May 6, 2024.
According to the court’s scheduling order, the SEC’s reply will be filed under seal today. This will allow Ripple and the regulatory agency to deliberate on the necessary redactions before a redacted version is filed in the public docket on May 8.
The industry pundit stated that after the SEC’s reply, Judge Analisa Torres could issue a final ruling around July – September 2024.
Potential Appeal and Settlement
Prosper speculated that one of the aggrieved parties could appeal the judge’s ruling, thus moving the lawsuit to the Second Circuit.
It bears mentioning that several legal experts project that the final resolution of the Ripple lawsuit could be pushed to 2026 should any of the parties appeal.
In his recent analysis, Prosper said the appeal might not take as much time to resolve as many people anticipate.
Interestingly, he stressed that the parties could settle at any time during the appeal. He projected that a final resolution via a mutual agreement or settlement could occur between now and a potential decision by the appellate court.
Since the lawsuit started in December 2020, XRP community members have discussed the likelihood of a settlement in the case. This has birthed a series of speculations about the timeline for a settlement.
Notably, the SEC and Ripple have participated in different settlement conferences to resolve the lawsuit by mutual agreement. However, these efforts have ended in futility, with no signs of a settlement happening any time soon.
Despite Ripple’s willingness to settle with the SEC under the condition that XRP is officially recognized as a non-security, the regulatory agency seems uninterested in adopting this approach.
Meanwhile, the crypto community looks forward to the SEC’s reply regarding remedies, which would take the lawsuit closer to a final resolution at the district court level.
It remains to be seen whether any of the parties might pursue an appeal at the Second Circuit after Judge Torres issues her final ruling
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