Lawyer Reacts As Pundit Says Judge Torres May Take Final Action On XRP Case Today

Prominent lawyer and XRP enthusiast Bill Morgan has publicly challenged a speculative claim regarding the conclusion of the long-running legal dispute between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs Inc.

His remarks came in response to a post by X user Ray, who suggested that Judge Analisa Torres still needs to give final approval in the matter, potentially leading to a significant price surge for XRP.

Ray’s post claimed that “all eyes” should be on Monday, alleging that Judge Torres “may give the final green light” in the Ripple vs. SEC case. He further speculated that such a decision could lead XRP to reach a price target of $5. In response, Morgan dismissed the statement outright, describing it as “so deluded and wrong” that he did not know where to begin in addressing it.

Status of the Ripple vs. SEC Case

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The legal conflict, which has been closely monitored by the global digital asset community since it began in December 2020, saw a significant development a few days ago.

According to an August 7 report from Times Tabloid, defense lawyer James K. Filan announced that the SEC and Ripple had jointly filed to dismiss their respective appeals. This action effectively brought the dispute to an end, eliminating the prospect of further litigation over earlier court rulings.

The resolution followed years of legal arguments over whether XRP constituted an unregistered security under U.S. law. Judge Torres’s previous rulings had established distinctions between institutional sales of XRP, which she determined violated securities regulations, while programmatic sales on exchanges did not.

These partial victories for both sides had initially led to the filing of appeals, but the joint dismissal confirmed that neither party would continue to challenge the decisions.

Market Implications and Reality Check

While XRP remains a widely traded asset in the digital currency market, price predictions tied to legal proceedings often draw scrutiny from legal professionals who emphasize accuracy over speculation. In this case, Morgan’s response serves as a counterpoint to overly optimistic projections that lack a basis in the latest court developments.

With the SEC vs. Ripple dispute now formally closed, future XRP price performance will likely hinge on broader market conditions, adoption trends, and regulatory developments in the United States and internationally, rather than on any remaining judicial rulings from the case.

Morgan’s remarks explain the importance of distinguishing between verifiable legal facts and market rumors, especially in an industry where public statements can influence trading sentiment.

Disclaimer*: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.*