Attorney Jeremy Hogan, a highly respected legal expert from Hogan & Hogan, has recently shared his perspective on the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). According to Hogan, the case is nearing its conclusion, following the SEC’s decision to drop its charges against Ripple executives Brad Garlinghouse and Chris Larsen. This development has garnered significant attention within the cryptocurrency community.
Hogan believes that this decision by the SEC suggests a critical turning point in the case, indicating that the anticipated trial against Ripple’s leaders may no longer proceed. Instead, the focus now shifts to the remedies phase, where major hearings are expected to determine potential penalties that could amount to $770 million.
“While important hearings will still be held in the coming months to decide on a judgment of up to $770 million, for all intents and purposes, the Ripple v. SEC case is over,” Hogan stated on Twitter.
He further explains that there are several possible scenarios that may unfold in the coming months. First, Judge Torres could deliver a final judgment within the next year. Alternatively, there could be a settlement reached between Ripple and the SEC before the judgment, or an appeal to the Second Circuit after the judgment. The SEC has indicated its intentions to appeal, particularly on aspects related to programmatic sales of XRP. However, the penalty stage needs to conclude before the appeal can proceed.
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Hogan employs statistical analysis to assign a 14.2% probability for a SEC victory in the event of an appeal. He brings attention to Judge Torres’s meticulous and fact-based approach in her previous opinions, implying that it may not favor the SEC’s odds.
In addition to the potential legal outcomes, Hogan also considers external factors that could significantly influence the case’s outcome. He highlights potential legislative actions by Congress or a regime change as significant variables that may impact the final verdict.
While the legal battle unfolds, Hogan also provides a technical analysis of XRP’s market behavior. The article suggests that XRP is positioned at a crucial juncture, as bullish indicators emerge, such as the convergence of the 50-day and 200-day Exponential Moving Averages (EMAs). Currently trading at $0.52, with a slight increase of 1.4% in the last 24 hours, XRP shows potential for further gains, with resistance levels identified at $0.53 and $0.5470.
However, should XRP face downward pressure and break below the EMA, the article cautions investors to be vigilant and outlines potential support levels.
As the legal and market developments surrounding Ripple and the SEC’s case continue to capture the attention of the crypto community, this article serves as a comprehensive guide. It aims to provide readers with a detailed understanding of the intricate legal proceedings and market implications, enabling them to make informed decisions in the volatile cryptocurrency landscape.
Furthermore, the article emphasizes the importance of choosing a reliable and trustworthy crypto exchange for investors. Coinbase, for example, is endorsed as a reputable platform that offers a wide range of cryptocurrency investment options and low fees. With regulation by authorities such as the SEC and FINRA in the USA, as well as CySEC and FCA in Europe, Coinbase provides a secure environment for trading cryptocurrencies like Ripple (XRP) and over 200 other digital assets.
In conclusion, Attorney Jeremy Hogan’s perspective on the SEC vs. Ripple case indicates that the legal battle may be drawing to a close, with major hearings and potential penalties expected to be the final chapters in this prolonged saga. The article also provides a technical analysis of XRP’s market behavior, offering insights into its potential price movements. Overall, the comprehensive analysis aims to equip investors with valuable information to navigate the evolving landscape of cryptocurrencies.
