What Are The Odds of the SEC Winning the Lawsuit Against Ripple (XRP)? Attorney Chips In
TL;DR
Jeremy Hogan sees a declining probability of the SEC winning against Ripple after key executives were cleared from charges.
Hogan hints the SEC might drag the lawsuit to 2026, but with a minimal victory chance.
ChatGPT anticipates a surge in XRP’s price with a possible peak at $10 if Ripple prevails.
The SEC Seems Doomed to Lose
The popular US lawyer and Partner at Hogan & Hogan – Jeremy Hogan – pinpointed a few possibilities that might occur before the final resolution of the lengthy lawsuit between Ripple and the United States Securities and Exchange Commission (SEC).
In his view, the regulator’s chances to win the case have dropped since the company’s CEO – Brad Garlinghouse – and Executive Chairman – Chris Larsen – were cleared of all charges.
“The SEC dismissed the rest of the case, so there will be no trial next year. The facts have been set – nothing new or surprising will be coming out. Which means the Court will be issuing a Final Judgment (probably) sometime next year. Only Ripple needs to worry about that,” the attorney claimed.
He also believes that the blockchain enterprise would emerge victorious, while the SEC has a 14.2% chance to win after a subsequent appeal. According to him, the Commission’s best shot for a decisive victory is to delay the legal process, get through more hearings, and eventually reach another plead.
Hogan assumed that such a scenario would prolong the battle until 2026 and would give the agency a mere 2.3% chance to triumph. He compared the odds to the ones set for the New York Jets to win the Super Bowl 2024. It is worth mentioning that the last time the team lifted the trophy was in 1969, as it was the only time they reached the final match.
Where Would XRP Land if Ripple Wins?
According to the AI-powered language model ChatGPT, a decisive victory against the US SEC could significantly boost the valuation of Ripple’s native token – XRP. It went further, estimating that the $10 level is in the cards, assuming other crucial factors are in place.
Restoration of trust, potential partnerships, market sentiment, and competitive landscape were some of the outlined elements. “Even if Ripple wins its case against the SEC, there could be other regulatory challenges in the future, both in the US and internationally,” ChatGPT stated.
Those wishing to see XRP’s possible trajectory in the short term and find out whether the market is at a turning point could take a look at our video:
The post What Are The Odds of the SEC Winning the Lawsuit Against Ripple (XRP)? Attorney Chips In appeared first on CryptoPotato.
Filed under: Bitcoin - @ October 23, 2023 7:15 pm