The legal battle over the status of XRP between Ripple (XRP) and the US Securities and Exchange Commission (SEC) has been going on for more than a year, with many investors eagerly awaiting the outcome.
However, Judge Analisa Torres' decision on summary resolutions submitted by both parties was delayed for several months, sparking speculation and conspiracy theories among some observers.
In response, attorney John E Deaton, who represents thousands of XRP holders in a separate lawsuit against the SEC, calmed the rumors by sharing some information on Twitter.
He noted that there are other cases in Judge Torres' file that require his attention, and some of them have taken even longer to settle than the Ripple case. He also noted that Judge Torres is likely aware of the importance and implications of his decision on the cryptocurrency industry and public interest.
As of now, Judge Torres has been holding his decision in the Ripple case for 7 months.
I know waiting is annoying and we'd all love to have a ruling on summary judgment motions as soon as possible, but I wouldn't think anything was wrong, unusual, or strange until at least the end of September.
— David "JoelKatz" Schwartz (@JoelKatz) July 10, 2023
Ripple's chief technology officer, David Schwartz, also explained on the subject that he is aware of the fact that the wait is frustrating, but that he will not think there is any problem or strange situation with the decision, at least until September.
*Not investment advice.
