Ripple: Dayton predicts new decision date, XRP loses steam

The XRP community is eagerly awaiting the verdict in the legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC). So far, all the speculations regarding the estimated end date have been wrong. The judge in charge, Analisa Torres, is taking longer for her decision than many legal experts predicted based on past proceedings.

However, that doesn’t stop attorney John E. Deaton, who is representing the XRP Legion in the legal case as an amicus curiae, from making a new prediction. In the latest cryptolaw broadcast, attorney Deaton speculates that Judge Torres will issue summary judgment on September 6, 2023.

Tarang Vs. SEC: Why September 6 could be the cut-off date

In the live stream, the lawyers point out that they have tried to predict the date of judgment several times in the past as well. For this, he looked at the previous proceedings of Judge Torres. The conclusion was that Torres ruled at varying speeds after the Dubert/expert proposals were decided: sometimes it was the same day, in other cases it was two, four and six months later, respectively.

Based on this, Deaton predicted that Judge Torres would rule on May 6, in early June (on average: three months). As a reminder, Torres ruled on the Daubert motions in the case between Ripple and the SEC on March 6th of this year.

Now that those deadlines have passed, Deaton comes up with a new prediction: Judge Torres will issue a summary judgment on September 6 of this year, after a full six months, according to the attorney. As Deaton also pointed out, the duration of the litigation between Ripple and the SEC so far is within normal limits and does not take longer than other cases.

In another comment, Deaton said that Judge Torres may delay the ruling because he understands the importance of the SEC vs. Ripple case. She knows thousands of people, including the Court of Appeal, will be reviewing her summary judgment in the Ripple case. He also has a staggering 500 open cases to decide, 44 of which are criminal.

Ripple: waiting for the decision

— CryptoLaw (@CryptoLawUS) 27 June 2023

XRP Price Rises

It seems that the delay in the decision in the legal battle between Ripple and the SEC has left XRP investors upset. A look at the 1-day chart of XRP shows that the price is in a descending trend channel after failing to break the $0.50 resistance on the higher time frame over the past two weeks.

A breakout from the trend channel is crucial for making a fresh move towards the resistance at $0.50. Currently, XRP is testing the middle line of the trend channel. A break below $0.4730 could mean a further decline towards the lower end of the trend channel at $0.46.

Featured Image from iStock, Chart from Tradingview.com