The Ripple vs SEC lawsuit case has attracted the attention of almost the entire cryptocurrency community. A number of crypto firms, including Coinbase, are pushing for the case to be dropped as soon as possible.
However, Attorney Jeremy Hogan, in a series of tweets earlier today, noted that the Ripple vs SEC case is much more complicated than a win or lose. Hogan posted a series of tweets detailing the legal outcome of the Ripple vs SEC lawsuit.
Attorney Hogan argues in the tweets that every legal case can be dismissed, settled, judged, or moved to trial. He further said that the Ripple vs SEC case is beyond the dismissal stage. According to Hogan, this case has four components, which may lead to 24 divergent results.
One of the sections is the fair notice defence. Notably, a fair notice defence has been pushed to trial at Ripple’s request. If the other components do not fall into place, the corporation intends to use the fair notice as leverage during the trial stage.
Apart from fair notice, attorney Hogan stated that there is a possibility that the judge may resolve one component anytime from now, leaving the other sections for trial in court.
The suit has reached the summary judgment pending trial, where both parties have already submitted their proposals to the judge. Attorney Hogan further said that at summary judgment, the judge might decide on any aspect of the case and reserve the rest for trial.
Possible Judgements on Ripple vs SEC Lawsuit
Attorney Hogan mentioned that the Ripple vs SEC case could have different rulings by Judge Torres. He said the judge could declare every XRP sale after On-Demand Liquidity as non-security and any sale before On-Demand Liquidity as security.
He added that Judge Torres might rule that all transactions were securities, leaving the question of damages and guilt of the respective defendants for trial. Also, the judge might declare that no securities were sold, covering ALL of the pieces.
According to Attorney Hogan, the judge may give a judgment that may take time to determine if the case of Ripple vs SEC is a win or lose.
In response to the analysis, the founder of Digital Perspectives, in a tweet, implored XRP investors to stay calm since the lawsuit is still far from an end.
The XRP investors hope that a judgment on the Ripple vs SEC summary judgment petitions will be available soon. However, given the circumstances, it may take much longer.
Meanwhile, XRP price is trading around $0.49, 8 per cent up in the past 24 hours according to the latest market data.