A favorable ruling from Judge Analisa Torres may spell bullish news for cryptocurrency firm Ripple, as the attorney Jeremy Hogan has recently shared similar information from a previous case involving Rio Tinto. During a dispute, Torres ruled there was no liability on behalf of the firm when "the sole basis for such claims is alleged misrepresentations or omissions", something Ripple stands firmly against when it comes to its ongoing securities case against the US Securities and Exchange Commission.

The authority sought to challenge the ruling made by Justice Torres, and a court of appeal upheld the decision. This is a noteworthy win for the crypto firm and provides a basis of hope in Ripple's own battle.

XRP, Ripple's digital asset, was hit hard after the SEC's lawsuit in 2020, whereas other cryptocurrencies were able to reach new heights in the same year following the bull market. The company's CEO Brad Garlinghouse claimed an end that the lawsuit was to be expected in the first half of 2023. Following this news, the price of XRP surged to $0.55 USD, only to later on retreat to the current market valuation.

Attorney Hogan has claimed that the SEC would not appeal a ruling made in favor of Ripple, citing two other lawyers familiar with the case who have the same opinion. However, the situation is still uncertain. At the time of writing, XRP is continuing to march with the general crypto market trend, trading at around $0.46 USD with a slight 0.43% increase in the past 7 days.

As a conclusion, if the court finds Ripple to be free of liabilities, the digital asset price of XRP could reach new highs as seen before. Yet, the future is still uncertain and regardless of appeals, the SEC can continue the battle further further. While many hold out hope that Ripple may emerge victorious, this could still take some time.



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