SEC Vs. Ripple Lawsuit Ruling Could Come Out Next Month Based On Judge's Stats: Lawyer

The SEC vs. Ripple Labs legal battle is considered one of the high-profile cases, and while the industry is waiting for the ruling in the case, a lawyer predicted the potential release date of the verdict based on Judge Analisa Torres' summary judgment ruling pattern.

Talking about the possible release date of the court's ruling in the ongoing legal battle between the U.S. Securities and Exchange Commission and the blockchain and software company Ripple Labs, pro-Ripple lawyer Fred Rispoli said it could be out in August.

Using the statistics related to the motion summary judgment of the United States District Court for the Southern District of New York Judge Analisa Torres, the one handling the case, the lawyer underlined that 60% of the federal judge's rulings came between 146 and 330 days period, with the judgment announced in an average time of 249 days.

Based on these statistics, the court should have released the verdict on May 21, which was the 249th day from Sept. 17, 2022, the date of the initial motion for summary judgment filing.

However, that is no longer applicable since that month has come and gone without any news from the court.

Rispoli also toyed with the possibility that the 330 days criteria could be applied in the SEC vs. Ripple Labs' case, and if this is used, the court's ruling is most likely to come out on Aug. 10 of this year.

"60% of rulings between 146 and 330 days. Which comes out to 249 days from September 17, 2022: May 21, 2023 (nope!) 330 days from September 17, 2022: August 10, 2023 (?). Although it's frustrating, I may be getting the best birthday present of my entire life," the lawyer said, adding "PS: Or the worst birthday present ever. One of those two."

Rispoli's prediction is a little early compared to the forecast made by another pro-Ripple lawyer and crypto law founder John Deaton, who previously predicted, using data, that Judge Torres' judgment could come out on Sept. 6.

Deaton used the six-month timeframe ruling of Judge Torres on the Daubert motion in the Ripple Labs lawsuit on March 6, hence arriving at the Sept. 6 date.

"There was a case that she decided, where her summary judgment decision came six months after her Daubert decision. So six months from her Daubert decision, if it were on March 6, [it] would be September 6," Deaton said in a live stream.

Ripple Labs CEO Brad Garlinghouse also previously anticipated that the ongoing legal battle is "coming to a close" and suggested In May that the judgment could come out "in weeks' time."

XRP, the native token of Ripple, saw a 0.42% loss and was trading in the red zone at $0.482 over the past 24 hours with a 24-hour volume down by 5.86% at $892 million as of 3:46 a.m. ET on Tuesday, according to the latest data from CoinMarketCap.