The long-awaited judgment on the legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) has been postponed, leaving the XRP community concerned about the possible effects on the digital asset’s price.
The lawsuit has been ongoing for over well over two years, with Ripple being accused of illegally selling XRP tokens as securities. While there were expectations that the verdict would be delivered sometime this week, Judge Analisa Torres has delayed the ruling.
Why The Delay? XRP Attorney Explains
Despite anxieties running high, Judge Torres has not given any specific reasons for the delay. XRP attorney John Deaton, who has been closely following the case, has offered an explanation as to why the ruling wasn’t delivered as expected.
Also Read: Ripple News: John Deaton Calls XRP a Cockroach, that Cannot Be Killed – Coinpedia Fintech News
According to him, Torres understands the gravity of her decision and its potential impact on the global finance industry, seeing as this case is the most significant non-fraud SEC enforcement action since 1946, the period of the infamous Howey case.
Deaton went on to explain that the Ripple legal team has been providing the judge with various precedents and examples of how the SEC has previously behaved in similar cases. Ripple’s defense team is seeking a fair and just judgment from the court, and the judge is trying to ensure she makes the right decision for the sake of everybody involved.
Some in the community have speculated that the complexities of the case, which has global implications, may have contributed to the delay. The judge may also be under immense pressure to ensure that her ruling is legally sound and supported by the evidence presented.
Deaton has urged the XRP community to remain patient and wait for the judge’s ruling. He also advised that the ruling will not be as simple as many might think. Nonetheless, XRP’s price has not been affected by the delay, and it remains to be seen how the market will react once the judgment is delivered.
