According to prominent crypto lawyer Jeremy Hogan, the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is effectively over. Recent developments in the lawsuit suggest that the scheduled trial against Ripple’s Brad Garlinghouse and Chris Larsen may not happen. The only pending issue in the case is determining suitable remedies for Ripple’s violations concerning its institutional sales of XRP, which could result in penalties of up to $770 million. Hogan predicts that a final judgment could be delivered next year, but there is a possibility of a settlement between Ripple and the SEC before then. Hogan believes there is a slim chance of about 14.2% for the SEC’s success if they appeal the ruling. He also suggests that external factors such as an Act of Congress or a change in the political regime could impact the outcome of the case. Hogan compares the odds of the SEC winning on appeal to the New York Jets winning the Super Bowl, estimating it to be exactly 2.367%. The positive legal developments have caused a 4.3% jump in XRP, and there is potential for further gains if the token moves above $0.57.
AI Sentiment: Positive