The ongoing legal battle between Ripple (XRP) and the US Securities and Exchange Commission (SEC) has entered its remedy phase. Indeed, many have been curious as to whether or not this development means that the end of the legal conflict is almost upon us.
in the most recent progression, Judge Sarah Netburn ruled that Ripple must comply with the SEC’s motion to compel. Therefore, the company has been forced to turn over all of its financial records connected to institutional sales between 2022 and 2023. Although there has been some debate regarding the relevancy of the development, could it be a sign that the case is nearing its conclusion?
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When Could the Ripple & SEC Case Finally End?
Although XRP has not had the greatest start to 2024, there is still hope for the asset’s performance on the market. One major situation holding it back is the ongoing court battle with the US regulators. Although that is still set to continue, many are anticipating the end of the legal conflict.
Yet, both Ripple (XRP) and the SEC have entered the remedy phase of the lawsuit. However, this does not seem to point to the years-long court battle being almost over. Indeed, the most recent granted motion will lead to an 8-day delay in the proceedings. Specifically, Ripple has requested an extension to the financial disclosure deadline.
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This is where the development becomes tricky because it does place the lawsuit in a kind of deadlock. Many experts have predicted that Ripple will appear in the Second Circuit Court. Although they will still have to comply with the SEC request, the legal battle could continue onward.
This means that any conclusion date to the actual lawsuit is pushed back even further. The extension on the financial disclosure request has already propelled that deadline to February 20th. Moreover, the deadline for rebuttals in the remedies stage is April 24th. Therefore, any end to the case will likely not come into view until May, providing a lot of uncertainty in the coming weeks.
