Jeremy Hogan, a well-known XRP lawyer, has given an estimate on when the long-running SEC v. Ripple legal dispute will be resolved. When asked for his honest assessment on when the case would be over, Hogan said that even in the worst-case scenario, the chances of it being extended past summer are slim.
Ripple CEO Brad Garlinghouse had previously stated that he hoped the case would be resolved by 2022.
Legal Struggle to End Soon?
Garlinghouse discussed the lawsuit’s progress in a CNBC interview in late November. Ripple, he argues, is making substantial headway in its legal struggle with the Securities and Exchange Commission of the United States.: “We’re seeing pretty good progress despite a slow-moving judicial process.”
Brad Garlinghouse predicts that the case involving XRP, the eighth-largest cryptocurrency, will be resolved in 2022.
The SEC filed the lawsuit in December 2020, claiming that XRP, Ripple’s native currency, which is used by the company and other payment companies on an open-source decentralised ledger has been an unregistered security in violation of US securities law since its launch in 2013, and that Ripple executives and investors should have known about it.
Despite the legal battle with the US Securities and Exchange Commission, CEO Brad Garlinghouse revealed in a series of tweets on the first anniversary that Ripple has had its finest year to date.
Impact On XRP Price
Since the start of Lawsuit XRP price has been continuously plunging hard the ranks losing the grounds to other emerging crypto. XRP still manages its position in the top 10 crypto Ranking.
However, If ripple wins this case, Traders can expect a massive rally in 2022. XRP Price might surge to hit its previous all-time high of $3.4 while many experts expect it to hit double digits.
This week, the XRP drop is expected to continue, with the price likely to fall back to its crucial support level. At the time of writing XRP is trading at $0.84 and is down by 0.58 percent.