In the ongoing In re Ripple Labs Inc Litigation, the US court has granted an order to expedite issuing a final judgment, marking significant progress toward the resolution of the long-running case.
The California district court has approved a motion to amend the order related to judgment and stay in the XRP lawsuit. Both parties jointly submitted a proposed order, stating there was justification to delay the judgment following the resolution of class claims.Â
The filing outlines that “Within 30 days after the final resolution of the appeal of the class claims, the parties shall file a joint motion to lift the stay on the docket in this case.” Judge Phyllis Hamilton approved a joint request from both parties to move forward with the final judgment while maintaining a stay on the plaintiff’s class claims.
The California district court ruled in favor of Ripple Labs, XRP II LLC, and CEO Brad Garlinghouse. Class claims were resolved, but one individual claim for relief remains pending the final resolution of appeals. A trial date for unresolved matters has been set for January 21, 2025, though the court has encouraged both parties to consider alternative resolutions.
Ripple submitted a detailed bill of costs, accompanied by 65 exhibits and a declaration from Litigation Director Ana Guardado, outlining litigation expenses and lawyer fees that contributed to this outcome.
The court’s expedited judgment has sparked a notable rally in XRP’s market value. The cryptocurrency recently reached a year-to-date high of $1.62 before stabilizing at $1.45, reflecting a nearly 30% gain over the past week.
Analysts using Elliot Wave analysis project that XRP could climb as high as $13 in the coming months. This surge highlights renewed investor confidence, driven by Ripple’s ongoing legal victories and improving regulatory conditions for cryptocurrencies in the United States.
Ripple executives remain optimistic following the dismissal of the SEC lawsuit, as the regulatory environment for cryptocurrencies in the US shows signs of improvement.
Pro-XRP lawyer Jeremy Hogan has forecasted that the Ripple vs. SEC case could potentially conclude by spring or early summer of 2025, coinciding with the anticipated departure of SEC Chair Gary Gensler.
Also Read: XRP Set to Touch $1 After SEC Gary Gensler’s Exit Rumor
