In the ongoing Ripple XRP lawsuit, a court has set new deadlines for motions and hearings. Judge Phyllis Hamilton has scheduled a July 8 deadline for a narrowed motion to seal and a July 26 deadline for parties to indicate their stance on excluding four experts’ testimony.
This development follows a significant ruling where the court partially granted and denied a motion for summary judgment, aligning with the SDNY court’s view that XRP programmatic sales are not securities. Notably, Ripple CEO Brad Garlinghouse’s statement regarding his “long” position on XRP remains under scrutiny.
The case, now referred to Magistrate Judge Robert Illman, continues with unresolved claims. Historically, this case marks a crucial point in determining the regulatory stance on XRP, influencing its market dynamics.
XRP’s price, trading under $0.45, saw a 4% increase amid low volumes and whale accumulation, reflecting bullish sentiment. The community eagerly awaits Judge Torres’ final judgment on penalties and injunctions expected by July-end.
This lawsuit’s outcome is pivotal, potentially setting a precedent for the classification of cryptocurrencies and impacting future regulatory frameworks.
