The cryptocurrency community is agog over pro-XRP lawyer Fred Rispoli’s recent comments on the Ripple v. U.S. SEC lawsuit. During the premiere of the cryptocurrency-focused live stream Legit Bros, the lawyer clarified important information about the complaint, including its possible expiration dates and the SEC and Ripple’s likely next steps in their legal dispute. The lawyer’s comments have quickly attracted much attention, and the cryptocurrency world is anxiously awaiting the lawsuit’s resolution.
In the meantime, it’s important to note that XRP’s sluggish market performance has sparked investor speculation, especially after Fred Rispoli’s remarks.
Fred Rispoli Predicts An End To The XRP Lawsuit
In his remarks, Rispoli ventured a daring guess, saying that the case might be resolved entirely in July or August at the district court level, independent of any appeals. In addition, he addressed the worries of the XRP community. He emphasized the high stakes in the case since Judge Torres still decides how much fines Ripple must pay.
The attorney who supported XRP responded, “I think it’s going to be under $25 million,” to this. In contrast to the $2 billion fine the SEC has recommended, this comment has received much attention from the global cryptocurrency community.
Much attention has also been given to whether the Judge’s motion will require an injunction on Ripple’s operations, which are essential to its business model, particularly ODL (On-demand Liquidity). In response, Rispoli states that while it would be miserable if this were to occur, Ripple will continue moving on with its plans.
Concurrently, even though XRP was up at the time of writing, the regulatory haze continued to doubt the company’s future.
Price Jumps for XRP
At the time of writing, XRP is trading at $0.525 after rising by 0.74% over the previous day. The 24-hour trading volume decreased 33.57% to $738.40 million, while the token’s market cap increased 0.73% to $29.02 billion. This information adds credence to XRP’s extremely erratic market price behavior, which is mostly related to the ongoing case.
However, suppose the case ends at the specified time. In that case, investors in the cryptocurrency market may notice a significant change in XRP’s price movement.
