How long does it take for XRP vs SEC to actually end? Deaton breaks it

The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) felt like an endless story for the crypto community. A surprising twist once again delayed the process as both sides seemed ready to bring things together.

Curve ball from Judge Torres

Both Ripple and the SEC agreed to resolve the case, according to XRP lawyer John Deaton. The SEC has reduced appeals regarding secondary sales on XRP’s exchanges, and Ripple agreed to settle cross appeals regarding the agency’s sales and a massive $150 million fine. The plan was to reduce the fine to $50 million and lift an injunction restricting Ripple’s institutional sales.

The parties then asked Judge Annalisa Torres for a heads-up on how she controls essentially, and how she controls if the case is sent back to her from the Court of Appeal.

However, because no one had any expectations, Judge Torres denied the motion. She noted the procedural issues and said the parties were not addressing the “heavy burden” necessary to convince the court that lifting the injunction is in the greatest interest of the people.

Maybe why judges get frustrated

Deaton explained that Judge Torres’ rejection was not just legal skills. After years of intense courtroom fights, piles of papers, and more than $250 million spent between both sides, the judge may be unhappy with the sudden change of mind in the SEC.

The judge asks both sides to explain why the injunction was lifted, particularly as he discovered Ripple’s institutional sales violated the securities law, particularly as he discovered that her original judgment violated the securities law.

What happens next?

So how long will this take for the end? According to Deaton, the case was not deadlocked, but it hit another “speed bump.”

He believes that both Ripple and the SEC must file a joint brief to file their case with Judge Torres. Ripple’s institutional clients are sophisticated investors like banks and hedge funds, not retailers that harm sales.

If the judge can convince the judge that disbanding the injunction coincides with public interest and clarity of regulations, Deaton believes he will ultimately approve the settlement.

How long does it take?

Deaton estimates that it could take several more months for the XRP vs. SEC case to be fully resolved. “In the end, this is another speed bump along the way,” he said. Once Judge Torres is satisfied, the case returns to the Court of Appeals for the Second Circuit, where it is formally remanded to her, and the terms of the final settlement are approved.