"Don't get too comfortable XRP investors, there are still some things to work out."
There is no denying that the legal battle between Ripple (XRP) and the Securities and Exchange Commission (SEC) is finally on the side of the digital asset, but the legal problems for the defendants are still far from over.
This is because the SEC is likely to file an appeal of the decision announced in a higher court, so it is important for investors to know some things that will happen in the future in the XRP lawsuit.
According to Mr.Huber, the pro-XRP analyst said that the pending XRP lawsuit is expected to have four different legal processes, among them Settlement, Motion for Reconsideration, Interlocutory Appeal and Permanent Appeal.
Solution
If the parties choose to settle the case, then the cost of further litigation will be avoided. Where it is able to deliver results such as providing certainty and potential returns in business for the defendant.
Motion For Reconsideration
The action will demand the reversal of the Summary Judgment ordered by Judge Analisa Torres, therefore it will insist the court made a serious legal error in its decision.
However, the district court judge has to withdraw or modify his decision if the move is allowed but the move must be filed within the first 14 days after the announcement of the Summary Judgment which is 27 July 2023.
Interlocutory Appeals
The appeal is intended to request the annulment of the decision but the appeal court must agree to hear the appeal, however appeals are only accepted in exceptional cases that need to be completed before 31 August 2023.
As of this writing, the price of XRP has slipped by 4.91% to $0.69 in the last 24 hours with a market cap of $36 billion and has recorded a decline of around 6.78% over the last week.
