XRP Lawsuit Update: Marc Fagel Weighs in on Judge Torres’ Ruling

The Ripple vs. SEC lawsuit continues to spur conversation in the XRP and broader digital asset community. While both parties are looking forward to a resolution, former US. Security Commission lawyer Marc Fagel shared his thoughts on the future of the case. Fagel posited Judge Analisa Torres’ ruling would stand, 

Judge Torres’ Ruling Likely to Stand in XRP Lawsuit

In a recent update,  former SEC commissioner Marc Fagel dismissed speculations that Judge Torres might withdraw her previous judgment. Fagel, who has a background with the SEC, clarified that the judge is unlikely to reverse her decision on Ripple’s liability.

He further reiterated that the focus of the legal proceedings will likely move to addressing the remedies and penalties. He considers this as an important step for both parties involved. 

It is worth mentioning that this statement came to light as XRP proponents and other markets continued to discuss the case’s future.

A Mysterious Filing Causes Concern

In an interesting turn of events, American journalist Eleanor Terrertt disclosed that a man named Justin W. Keener, who was not authorized to be involved in the XRP lawsuit, submitted a request to present decisive evidence.

This filing claimed that the evidence would benefit Ripple and the American public. However, the filing’s nature has raised more questions than answers. 

Fagel quickly dismissed it as irrelevant, labeling it as spam and noting that it was a submission by someone not involved in the case. He expects it to be deleted soon.

Settlement Still in Sight, But Delays Are Possible

It is important to add that Ripple Labs’s withdrawal of its cross-appeal following the SEC’s withdrawal of its appeal indicates that the case is nearing its end. 

Legal experts suggest a settlement could be reached within two months. However, potential delays are still possible, as a few steps remain before a final resolution. 

Meanwhile, In an interview with CNBC, Ripple’s Chief Legal Officer Stuart Alderoty stated that Ripple would lead the effort for clear and fair crypto regulation. Still, crypto experts and the community continue to watch closely as the case develops. 

As of this publication, CoinMarketCap data shows XRP, the fourth-leading cryptocurrency globally, is trading at $2.12. It has been down by 0.45% in the last 24 hours. The coin trade volume has declined by 49.66% to $2.77 billion.

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