The Ripple against Dry affair has lasted for a decade and continues, even if Ripple has recently decided not to appeal. Many in the XRP community had hoped that this would signal the end of the legal battle, but the experts now say that a final resolution could still take several weeks or more.
However, after the news from Ripple which abandons the file, XRP has won 5%, while for the moment it is down again, because there is still no clarity if the dry also abandons the call.
Although the community has great hopes of the dry abandoning the case, the lawyer says that there is more in history. Here is the latest update on the highly anticipated Ripple vs dry case.
Non -instant call dismissal process
The former SEC lawyer, Marc Fagel, said the official rejection process of the CALL appeal is not immediate. The dry must first vote internally to make the dismissal. After that, Ripple and the SEC must submit the necessary documents to officially reject their respective calls. It is only these stages finished once that the previous decision of the district court will fully come into force.
This procedural backlog means that the result of the case is still pending and there is currently no confirmed calendar. Although there is a chance that the process can be accelerated, Fagel suggested that “several weeks” is a more realistic expectation.
Adding to speculation, a next door in camera of the dry scheduled for July 3 has aroused new hopes within the XRP community. Some believe that this meeting could mark a turning point, which potentially led to the final rejection of the case against Ripple.
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Reunion’s agenda includes cases, which fueled optimism that the dry could vote to close the case of undulations during this session. However, familiar experts with dry procedures have warned that such meetings are routine and occur every week, which means that it is unlikely that it is a special session focused only on the RIPPLE.
What is the next step for the XRP price?
Despite legal uncertainty, the feeling of the XRP market remains prudently optimistic. Traders and investors are watching closely on all signs of closure, especially since legal clarity could have a major impact on long -term prices of the assets.
In the meantime, the XRP community continues to wait for the official updates of Ripple and the SEC, in the hope that a resolution will ultimately end one of the oldest legal battles in crypto.
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Faq
No, despite the undulation of the abandonment of its trick, the trial is not officially finished. The former SEC lawyer, Marc Fagel, specifies that the SEC must still vote internally to reject his appeal, and the two parties must then submit official documents. It is only after these measures that the previous decision of the district court will take full effect.
There is no confirmed calendar for a final resolution. Although the process can be accelerated, the former SEC lawyer Marc Fagel suggests that “several weeks or more” is a more realistic expectation for the dry to finish his internal vote and for both parties to deposit the necessary dismissal documents.
Despite persistent legal uncertainty, the feeling of the XRP market remains carefully optimistic. Traders and investors closely follow any sign of final closure, because regulatory clarity should have a major positive impact on the long -term XRP long -term prices.
