Impact

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  <p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/major-twist-in-ripple-vs-sec-lawsuit-judge-recommends-settlement-conference/">Major Twist in Ripple Vs SEC Lawsuit: Judge Recommends Settlement Conference</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
  <p>The legal drama between Ripple Labs and the US Securities and Exchange Commission (SEC) has taken another riveting turn as the focus shifts from courtroom drama to potential settlement talks. Judge Analisa Torres, overseeing the Ripple vs. SEC case, referred the lawsuit to Magistrate Judge Sarah Netburn for general pretrial. Amidst this, Ripple and the SEC have been nudged towards a settlement conference.</p> 
  <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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     <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">To be clear: Judge Netburn is suggesting that both sides agree on some possible dates for a settlement meeting, *IF* "they believe it to be productive at this time." <br><br>This doesn't mean we'll see a settlement in 6-8 weeks. It means that if they do decide on a date, it will have… <a href="https://t.co/3bxqCGLyPr" rel="noopener noreferrer nofollow">https://t.co/3bxqCGLyPr</a></p>— Eleanor Terrett (@EleanorTerrett) <a href="https://twitter.com/EleanorTerrett/status/1681038538316423168?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 17, 2023</a> 
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  <p>In a court filing for the Southern District of New York, Judge Netburn issued an order directing Ripple and the SEC to agree on three mutually convenient dates. This proposal aims to schedule a settlement conference “if they believe it would be productive at this time.” The potential settlement talks, if agreed upon, would need to be scheduled 6-8 weeks in advance, acknowledging the court’s packed calendar.</p> 
  <h2 class="wp-block-heading" id="strong-mixed-reactions-to-the-settlement-proposal-strong"><strong>Mixed Reactions to the Settlement Proposal</strong></h2> 
  <p>While this proposition lights a beacon of potential resolution, not everyone shares the same optimism. FOX Business’s Senior Journalist, Charles Gasparino, is confident that the SEC will appeal against Judge Torres’ decision. He highlighted the ongoing threats and lies circulating the crypto space while asserting that these won’t halt SEC’s potential appeal against Ripple’s case.</p> 
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     <p lang="en" dir="ltr">Several people who have been trolled by the XRP cultists say they issue death threats, will make up all sorts of lies etc. Sad and scary stuff. And pointless. It won’t stop <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@SECGov</a> from appealing the <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Ripple</a> case, or the court issuing a fine. Certainly won’t bring XRP back to $3</p>— Charles Gasparino (@CGasparino) <a href="https://twitter.com/CGasparino/status/1681061448946991107?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 17, 2023</a> 
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  <p>On the other side of the spectrum, Ripple CEO Brad Garlinghouse hints that an SEC appeal could result in a protracted legal process. He believes that the ruling’s focus on institutional sales, dubbed as the “smallest piece” in the XRP lawsuit, further complicates the issue.</p> 
  <h2 class="wp-block-heading" id="h-a-ripple-in-the-crypto-pond-impact-on-xrp"><strong>A Ripple in the Crypto Pond: Impact on XRP</strong></h2> 
  <p>The ongoing legal battle and the emerging possibility of settlement talks have stirred the XRP markets. Post-Judge Torres’ summary judgment, XRP experienced an impressive 85% rally, soaring to a high of $0.88. However, the wave of celebration was short-lived as the token’s price corrected itself in light of the SEC’s potential appeal and traders securing profits.</p> 
  <p>As of now, XRP is weathering a quiet phase with its price trading sideways at $0.74, with a 24-hour trading volume witnessing a 37% dip. While the possibilities seem endless and opinions divided, a settlement could mark a significant milestone in the Ripple vs. SEC saga, potentially setting precedents in the realm of crypto-regulations.</p>
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Major Twist in Ripple Vs SEC Lawsuit: Judge Recommends Settlement Conference

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