Ripple Labs has recently achieved a significant milestone in the ongoing XRP lawsuit, with a U.S. court granting approval to expedite the issuance of a final judgment in the case. This development marks a crucial step towards resolving the legal dispute that has been looming over Ripple and its digital asset, XRP, for an extended period of time.
The court’s decision to fast-track the final judgment is a positive outcome for Ripple, as it signifies a move towards a quicker resolution. Both Ripple and the plaintiffs involved in the case have mutually agreed that there is no need to prolong the judgment process, considering that most of the class claims have already been settled.
In addition to expediting the judgment, the court has also approved Ripple’s request for an amended judgment to address any uncertainties surrounding the case’s finality. While most of the claims have been resolved, one relief claim against Ripple remains on hold pending the conclusion of the appeals process. It is expected that both parties will file a motion to lift the stay within 30 days after the appeals are finalized. Ripple has also provided detailed records of its litigation costs, highlighting the efforts put forth in its defense.
The timeline of the Ripple vs. SEC lawsuit has been a topic of interest in the cryptocurrency community, with Pro-XRP lawyer Jeremy Hogan speculating that the case could potentially be concluded by mid-2025, especially with potential leadership changes at the SEC. Ripple’s leadership remains optimistic, viewing these recent legal victories as a strong foundation for future growth and potential influence on other crypto-related cases.
On the market front, XRP experienced a surge last week, reaching a three-year high of $1.63 following news of SEC Chair Gary Gensler’s impending resignation on January 20. Although the price has since dipped to $1.46, XRP still maintains a notable 30% gain over the past week. Market analysts are optimistic about XRP’s future performance, with some predicting that the digital asset could potentially surpass its previous all-time high of $3.38 before the year concludes.
Overall, Ripple’s recent legal victories and the positive market outlook for XRP signal a promising future for the company and its digital asset. These developments underscore Ripple’s resilience and potential for growth in the evolving cryptocurrency landscape.