Ripple (XRP) to Face Two Crucial Trials in the Same Month

In what is certainly an important development for the firm, Ripple (XPR) is set to face two crucial trials in the same month. Specifically, the firm is going to take part in a vital motion hearing for its ongoing Zakinov vs. Ripple Labs case this month. Moreover, that trial should be set to officially begin in April of 2024.

Additionally, Ripple’s ongoing legal conflict with the US Securities and Exchange Commission (SEC) will face a crucial trial on April 23rd, 2024. Both legal conflicts were initiated in 2018 and 2020 respectively. Subsequently, the ongoing cases present crucial developments for the lawsuits.

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Ripple Labs Facing Two Critical Trials in April 2024

The new year has certainly started with renewed optimism for Ripple. The XRP token ended 2023 with rather positive performances, and many expect that to continue throughout 2024. However, the firm is set to face some important legal developments rather soon that could have massive implications.

Ripple (XRP) is set to face two crucial trials in the same month. Specifically, the firm is set to take part in a motion hearing for Zakinov Vs. Ripple Labs on January 11th. That Zoom seminar will occur before Judge Phyllis J. Hamilton and is open to the public.

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That lawsuit first came to fruition in 2018, when XRP holders sued Rippel Labs. The filers alleged that the company provided false information, and violated laws through the sale of XRP as an unregistered security. The case’s namesake, Vladi Zakinov, is among the victims. After several postponements, the case is predicted to begin on April 15th, 2024.

Alternatively, Ripple’s ongoing case with the SEC is set to face its grant trail a little more than a week later. On April 23rd, 2024, the two parties will meet the requirements to face off in court. Both sides are given their deadline to file their brief for remedies; the SEC’s is March 13th, while Ripple’s is April 12th.

That lawsuit remains one of the most important in the digital asset sector. First issued in December 2020, the regulatory agency first alleged Ripple was selling XRP as an unregistered security. However, in July of 2023, a judge ruled against the claims relating to the secondary sale of the token.