The legal battle between Ripple and the SEC has progressed, with Ripple expected to respond to SEC motions by early May as per a new scheduling order by Judge Sarah Netburn. Attorney Jeremy Hogan predicts a potential conclusion to the lawsuit by summer, with a possible $100 million settlement.
Judge Netburn’s recent actions in the case, along with her favorable stance toward Ripple’s XRP token, have raised hopes for a positive outcome for the company. She has previously acknowledged the utility of XRP, distinguishing it from other cryptocurrencies like bitcoin and ether.
Hogan foresees a scenario where the lawsuit could be resolved with a $100 million penalty for Ripple, a significant decrease from the SEC’s initial demand of a $2 billion fine. Ripple has argued against classifying XRP as a security, presenting reasons why any penalty should not exceed $10 million.
For more details on the legal dispute and its potential impact on XRP and the cryptocurrency market as a whole, watch the video below.