The legal battle between Ripple Labs and the SEC is nearing its climax as both sides prepare to submit their final briefs.
Key Dates
- SEC’s opening brief: March 22
- Ripple’s opposition brief: April 22
- SEC’s reply brief: May 6
Discovery Extension and SEC’s Request
Ripple received a one-week extension for discovery in February. The SEC also requested an additional week to file its brief, which was granted.
Settlement Unlikely
According to XRP advocate John Deaton, a settlement is currently off the table. The SEC’s recent actions, such as demanding Ripple’s financial statements, suggest a “scorched earth” approach.
SEC’s Focus on Current Operations
XRP community member Fred Rispoli believes the SEC is targeting Ripple’s current operations to restrict institutional sales.
Potential Fines
Deaton estimates that fines could range from $10 million to $100 million, significantly less than Ripple’s legal expenses.
Appellate Support
Deaton remains hopeful that the appeals court will support Judge Torres’s decisions on XRP sales.
Current XRP Price
At the time of writing, XRP is trading at $0.693.
