Ripple Lawsuit May Conclude Soon as SEC Opens Comments on XRP ETF
The US Securities and Exchange Commission (SEC) and Ripple are pausing further appeals in the XRP lawsuit. Lawyer Bill Morgan indicates that if both parties agree on an indicative ruling, the case may conclude in weeks.
Key Developments in Ripple Lawsuit
- Both parties have requested an indicative ruling from Judge Torres as part of their second joint motion.
- If granted, they will seek a limited remand to allow Judge Torres to implement agreed relief.
- This relief includes lifting the existing injunction and imposing a reduced fine of $50 million.
- Following these steps, they will request the Second Circuit Court to dismiss both the Appeal and Cross-Appeal, moving toward resolving the lawsuit.
SEC's Public Comment Period for Spot XRP ETF
- The SEC has opened a public comment period regarding CBOE’s proposal for an XRP spot ETF by Franklin Templeton Investments.
- Public feedback is invited on the proposal's approval or denial, following an extended review since June 17.
- Stakeholders can submit comments until late July; earlier odds of approval reached 98% on Polymarket.
- Despite these developments, XRP is currently facing selling pressure, trading down 3.69% at $2.15, with daily volumes falling over 37% to $3.28 billion.