- Magistrate Judge Sarah Netburn issues new scheduling order, prompting speculation about potential outcomes.
- Netburn’s past favorable remarks on XRP utility offer hope to Ripple, influencing industry sentiment.
For Ripple, the ongoing legal dispute with the SEC signifies a critical juncture as the trial phase unfolds. The recent development, marked by Magistrate Judge Sarah Netburn’s issuance of a new scheduling order, underscores the anticipation within the industry for a resolution or potential mutual agreement.
Judge Netburn’s directive focuses on the motion for remedies and final judgment, requiring the SEC to submit its response by April 29, with Ripple granted three business days to reply thereafter.
Following closely after Netburn’s appointment as District Judge in the Southern District of New York, this procedural measure ensues. Netburn has previously shown a somewhat favorable stance towards XRP, Ripple’s native token.
Related: Ripple’s April End Price Prediction: Will XRP Surge 26% to$0,75?
Netburn’s past comments, acknowledging XRP’s currency value and utility, have instilled optimism among Ripple supporters, hinting at the possibility of a favorable court outcome for the company. Attorney Jeremy Hogan’s recollection of her statement further bolsters this sentiment.
Amidst speculation, attorney Hogan has proposed potential scenarios for the lawsuit’s conclusion, envisioning a summer closure with a speculated $100 million settlement. This figure contrasts starkly with the SEC’s initial pursuit of a $2 billion fine against Ripple for alleged XRP sales violations.
Throughout the legal battle, Ripple has steadfastly maintained its stance, arguing against XRP’s classification as a security and contesting the SEC’s jurisdiction.
Stuart Alderoty, the company’s chief legal officer, has articulated compelling reasons why any penalty imposed should not exceed $10 million.
