Ripple vs. SEC Update: Could October 16th Mark the End of XRP Lawsuit?

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The XRP community is abuzz with excitement as Ripple’s prolonged legal battle with the SEC enters a critical phase. A recent post by Ashley Prosper on X shed light on the next steps in the appeal process, sparking a series of responses from prominent voices in the community. With Ripple’s Swell event coinciding with key legal deadlines, anticipation is building for a potential resolution to the case. 

Ripple vs. SEC: Settlement Conference on the Horizon

Ashley Prosper’s post offered a detailed look into the legal process now that the SEC’s appeal has been docketed. According to Prosper, the case is referred to the CAMP office, where a settlement conference will be scheduled. During this conference, both parties must be fully prepared to discuss legal, factual, and procedural issues in depth. Plus, counsel must consult with their clients ahead of time to secure as much authority as possible to negotiate a settlement.

Interestingly, participation in this process isn’t optional. Both the attorneys and clients are expected to engage in good faith, with the court reserving the right to sanction those who do not. This critical step has heightened anticipation that a resolution may be on the horizon.

October 16th Deadline and Swell Event Alignment

Community member Mickyd_XRP quickly chimed in, asking about the deadline for the SEC to reveal what exactly it is appealing against. Ashley Prosper responded that the deadline is set for October 16th, which happens to be the final day of Ripple’s Swell event. This timing has ignited speculation across the community, with many hoping that Ripple CEO Brad Garlinghouse could make a significant announcement as Swell concludes.

Ben Lemer humorously expressed hope that Garlinghouse will announce that the SEC legal case is finally over. The overlap between Ripple’s key event and the legal deadline has fueled speculation of a “flip of the switch” moment, potentially signaling a major turning point in the Ripple vs. SEC battle.

Will the SEC Withdraw Its Appeal?

As the deadline approaches, the possibility of the SEC withdrawing its appeal is becoming a hot topic of discussion. The timing has led to whispers within the community that the regulatory body might back down, especially given Ripple’s favorable position in recent court rulings. While there’s no clear indication yet, the notion of the SEC retreating from the case is gaining traction.