SEC-Ripple Lawsuit Not to Conclude in the Coming Few Months States Lawyer John E. Deaton

Despite the sentiment that the end of the SEC-Ripple lawsuit  is near, the analyst says it may not conclude even by March 2023.

Recently, John E. Deaton, the founder of the law firm ‘crypto-law.us’ and the amici curiae in the SEC-Ripple lawsuit, have appeared in the ‘Real Vision Crypto’ podcast. To the question that whether the ruling on summary judgement could come by 31st March 2023, Deaton responded that he doesn’t think it will happen as the judge is required to go through millions of pages of documents. However, Deaton noted, it is possible as the judge is aware of the fact that there are 17 amicus briefs and that tens of thousands of XRP holders, all of whom are affected  by the lawsuit in one or the other way.

Deaton stated:

“I would say the end of March is the earliest, I fear it could go into April or early May for a decision as well.”

Notably, Deaton represents 75,000 XRP holders in the lawsuit. He has also filed multiple amicus briefs in Ripple’s Support.

Further, the CEO of Cardano Charles Hoskinson had stated couple of days earlier that the rumours are; settlement between Ripple and the SEC may be made public on Dec 15th. On December 15th, he seemed apologetic as he stated that he may get an egg thrown on his face for his statement.

Moreover, currently trading at $0.36, Ripple’s native XRP is down 4.1% on the day. The coin was steadily moving upwards towards $0.40, before the Bitcoin took a downward turn to below $17k.