The Climactic Battle Between Ripple and the SEC Looms

The legal battle between Ripple Labs Inc. and the US Securities and Exchange Commission (SEC) approaches a critical juncture as deadlines for remedies briefing submissions draw near. These upcoming deadlines represent a pivotal phase in the ongoing confrontation, potentially paving the way for a resolution to the case.

Key Deadlines Outlined for Ripple vs. SEC Case by Attorney James K. Filan

Attorney James K. Filan outlined the imminent schedule on X, highlighting crucial deadlines: the SEC's opening brief is due by March 22, followed by Ripple's opposition brief by April 22, and concluding with the SEC's reply brief on May 6. These dates follow a one-week extension granted to Ripple in February for remedies-related discovery, due to a ruling in favor of the SEC by Judge Sarah Netburn.

XRP Advocates Express Doubts on Settlement Amid SEC's Aggressive Legal Approach

John Deaton, an XRP advocate, suggests that a settlement between Ripple and the SEC appears unlikely at present, with no discussions reportedly taking place. The SEC's recent motion to compel Ripple to disclose its audited financial statements for 2022–2023 and details on institutional sales post-complaint reflects a stringent legal approach, described by Deaton as "scorched earth litigation."

Fred Rispoli from the XRP community acknowledges the escalating focus of the case, speculating on the SEC's intentions to scrutinize Ripple's current operational compliance. He notes that the SEC's demands for financial documentation post-lawsuit filing underscore the agency's pursuit to restrain or disrupt Ripple's institutional operations.

XRP Advocate John Deaton Weighs Potential Fines Against Ripple's Legal Defense Costs

Deaton discusses potential fines for Ripple ranging from $10 million to $100 million, considerably lower than the estimated $200 million the company has spent on legal defense. Despite this, Deaton remains optimistic about appellate support for Judge Analisa Torres's decisions regarding XRP sales and distribution, envisioning the remedies phase as a comprehensive legal challenge.

At press time, XRP traded at $0.693.