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XRP Attorney Speculates on Possible End Date for SEC Lawsuit

The latest insights shared by attorney Fred Rispoli about the Ripple vs. U.S. SEC lawsuit have caused quite a stir in the world of cryptocurrencies. During the inaugural episode of Legit Bros, a live stream focusing on crypto, Rispoli discussed various aspects of the lawsuit, including potential timelines for closure and the strategies expected from both the SEC and Ripple.

The ongoing legal battle between the U.S. SEC and Ripple Labs has had a noticeable impact on the market performance of XRP, the token backed by Ripple Labs. Rispoli’s revelations have heightened the excitement within the XRP community, sparking discussions and predictions about the future price movements of the token.

Fred Rispoli Anticipates Swift Resolution of XRP Lawsuit

Rispoli made a bold statement by predicting that the lawsuit could wrap up at the district court level by July or August, without the need for appeals. He emphasized the significance of the impending ruling by Judge Torres, who will determine the fines Ripple must pay.

Expressing confidence, the XRP advocate stated, “I anticipate the fines to be below $25 million.” This forecast, contrasting the SEC’s proposed $2 billion penalty, has captured widespread attention within the global crypto community.

Furthermore, Rispoli addressed concerns about the potential impact of the judge’s ruling on Ripple’s operations, particularly on On-demand Liquidity (ODL). While he acknowledged the grim outcome if an injunction were imposed, he assured that Ripple would continue to push forward with its initiatives.

Despite the looming regulatory uncertainties, XRP saw positive price movement in recent trading sessions.

XRP Records Price Surge

At present, XRP has witnessed a 0.74% increase in its price over the last 24 hours, with its value reaching $0.525. The token’s market capitalization also registered a 0.73% rise to $29.02 billion, although the 24-hour trading volume declined by 33.57% to $738.40 million. These fluctuations underscore the volatile nature of XRP’s price, attributed in large part to the ongoing legal proceedings.

Should the lawsuit reach a resolution within the projected timeline, market observers could observe significant shifts in XRP’s trading dynamics.

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