Ripple could expect settlement on XRP lawsuit in April

Rick Steves

Potentially in favor of Ripple is the fact that Judge Sarah Netburn, who has seen all the documents in camera, will be hosting the mediation. 

The SEC v. Ripple lawsuit has been widely followed for its precedent-setting nature. The SEC wants to make an example out of Ripple, while Ripple says it wants to not only defend its interest but also fight in the name of the crypto ecosystem.

Most XRP holders, however, just want the lawsuit to be over in order to see XRP relisted on the US digital asset exchanges, such as Coinbase.

Settlement is the fastest way to see an end to the case that is dragging since 22 December 2020, when the Securities and Exchange Commission filed a complaint against Ripple Labs and individual defendants, Chris Garlinghouse and Chris Larsen, for an unregistered securities offering.

Constant delays in the lawsuit have frustrated XRP holders along the way, but chances that a deal is happening sooner rather than later are getting stronger by the day.

Judge Sarah Netburn will be hosting mediation

The court’s “biggest decision in the lawsuit“, according to XRP Holders’ attorney John Deaton, is round the corner. The DPP ruling, which the SEC is currently fighting by asking for a reconsideration, is expected to be confirmed and the notes and emails concerning Hinman’s 2018 speech should be handed over to Ripple.

The amount of evidence could be enough to corner the plaintiff and to provide leverage for an upcoming settlement between both parties.

Attorney Jeremy Hogan, Partner at the Hogan & Hogan law firm, has recently shared a document indicating a few rules that the SEC and Ripple will follow, including a settlement talk 14 days after the close of fact discovery.

The last settlement discussion, which happened a couple of months ago, wasn’t fruitful. The next most likely settlement time would be at mediation, said Hogan.

Potentially in favor of Ripple is the fact that Judge Sarah Netburn, who has seen all the documents in camera, will be hosting the mediation.

“She knows exactly what is in the emails, etc. and, if I am correct in that the SEC is the problem child here, that could make a big difference. A good mediator can really work miracles sometimes.”

The XRP community-friendly attorney added that his best guess is that settlement may come in April or May.

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