- Ripple requested a brief extension of the response deadline (Jan 17 to 19) to prepare necessary materials.
- Potential shift in SEC leadership post-election could lead to a more favorable outcome for Ripple.
- The extension may also disrupt the SEC’s planned schedule and hinder their progress in the lawsuit.
Ripple recently made a calculated move in federal court, filing a motion to extend the response deadline from January 17 to January 19. This strategy aims to provide ample time for the preparation of essential materials required by Ripple’s legal team, executives, and witnesses.
Strategic Time Management
In the legal world, even a one-day delay in responding to a brief can carry significant consequences, comparable to postponing the final resolution. Yassin Mobarak, the founder of Dizer Capital, sees Ripple’s delay tactics as part of a well-thought-out strategy, emphasizing the critical factor of time, which seems to be working against the SEC.
Read More: Ripple Vs SEC Court Filing Updates: New Deadline Set for January 19th?!
Mobarak suggests that Ripple’s request for additional time is more than just a procedural move! It’s a deliberate plan to extend the lawsuit. With an eye on the clock, he projects a period of 6 to 9 months before potential shifts influenced by U.S. elections. Mobarak speculates that if the current SEC leader, Gary Gensler, steps down post-election, a crypto-friendly regulator might influence the court case. In Mobarak’s view, these strategic delays subtly favour Ripple.
Opportunity Window for Ripple?
Gary Gensler, the acting chair of the SEC, might exit the stage, leaving the lawsuit’s fate to his successor post-election. In anticipation of this scenario, Mobarak notes, “If things get dragged out to a point where a pro-crypto SEC comes into play, the landscape for settlement changes.”
Changing Perspectives: What is Ripple’s True Motivation Here?
Mobarik’s perspective on Ripple’s repeated requests for time extensions has evolved. While Ripple has sought such extensions before, the latest motion, considering the background investigation of SEC managers, sheds new light on these events.
In one respect, Mobarak asserts that the precious commodity on which the SEC depends most is time. Moreover, any prolongation of the case could shift the order and responses. The scheduling order of the court means that the SEC will make a filing on April 29, 2024, which would be the last of the remedy stage motions. Speaking purely as a numbers man, Fred Rispoli, who takes for XRP, sees a ruling in early June. Now these two parties’ plans are intertwined with legal strategy.
Also Read: Ripple CEO Confirms No IPO in Sight, Reveals $285M Share Buyback Strategy
