Since the end of 2020, the ongoing Ripple case has not yet concluded and is very significant for the crypto industry. The SEC is attempting to broadly apply the Howey test to deem all altcoins as securities, but has not been fully successful so far.
Ripple (XRP) Case Updates
Ripple continues its fight with the United States Securities and Exchange Commission. The court has confirmed new legal briefing dates. These developments, announced last month by attorney James K. Filan, represented a significant milestone. The SEC had until March 22 to submit its opening brief, which it has done.
The regulatory body, which is demanding a $2 billion penalty from Ripple, seems envious of the $4.3 billion settlement with Binance. Now, on Monday, April 22, Ripple will make its objections.
When Will the Ripple Case Conclude?
Judge Analisa Torres declared in July 2023 that sales to individual customers through exchanges are not securities, but institutional sales were deemed investment contracts. This summary judgment caused the price of XRP Coin to rise sharply in July.
The case has become frustratingly prolonged, and the XRP Coin price has not reached its all-time high (ATH) due to increased circulating supply during the lawsuit. Even if the case ends, it seems unlikely that the price will reach the ATH zone again and aim for new peaks without a significant demand surge.
So when will the Ripple case end? Experts, considering the undefined scope of the appeal processes that will follow, point to 2026 as the end of the case. However, if the decision that secondary market sales are not securities is maintained, XRP Coin should not be stamped as a security. While it might be possible to consider corporate sales as investment contracts, we must say that the summary judgment clearly favors Ripple.
In conclusion, XRP Coin is not a security, and if the appeal process does not completely reverse this, Ripple will largely have secured its victory. However, all this, even under the most optimistic estimates, will take months.
