November 9th marks a crucial day in the US Securities and Exchange Commission’s (SEC) lawsuit against Ripple. The actions taken by both parties on this day could potentially determine the next steps in the case, drawing significant attention from the XRP community and the broader cryptocurrency industry.
Following Judge Analisa Torres’ dismissal order, November 9th has been set as the deadline for both Ripple and the SEC to jointly propose a briefing schedule with regard to remedies. This means that the two entities must outline their intended course of action in the ongoing legal battle. Failure to do so could prompt the court to intervene and provide guidance to both parties.
As of now, no court documents related to a briefing schedule have been filed, leaving uncertainty about whether Ripple and the SEC will meet the deadline.
The significance of November 9th is also underlined by the absence of any settlement discussions between the SEC and Ripple. The SEC recently dropped its claims against Ripple’s CEO and Co-founder, but it seems that no talks have been initiated between the two parties since then.
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Legal expert John Deaton has expressed skepticism about the possibility of a settlement, stating that there have been no serious discussions between the SEC and Ripple regarding a resolution. If this is true, it indicates that neither party has made any progress in addressing the next steps in the lawsuit.
Despite the legal battle, Ripple continues to focus on expanding its business, with the company holding its Ripple Swell Conference 2023 in Dubai. Ripple is also riding on the momentum of three consecutive victories against the SEC, giving the company confidence in the possibility of a favorable outcome from the court if a settlement is not reached.
It is important to note that Ripple’s XRP bulls are also facing challenges in maintaining control, as reflected in the price chart from Tradingview.com. The uncertainty surrounding the lawsuit and its potential impact on XRP’s performance adds to the urgency and significance of the actions taken on November 9th.
In summary, November 9th is a pivotal day in the ongoing legal battle between Ripple and the SEC. The outcome of the actions taken by both parties on this day will have far-reaching implications for the future trajectory of the case and its impact on the XRP community and the broader cryptocurrency industry.
The events leading up to and following November 9th will be closely monitored, and the decisions made by Ripple and the SEC on this day will likely shape the narrative of the lawsuit in the coming days and weeks.
