December 15 possible outcome Ripple vs SEC lawsuit

According to Cardano (ADA) founder and CEO Charles Hoskinson, the judge may already rule on December 15 in the lawsuit between Ripple (XRP) and the Securities and Exchange Commission (SEC). This would bring the dragging lawsuit between the two greats to an end after a battle of two years.

Surprise AMA 12/10/2022 https://t.co/WSiRTrCACP

— Charles Hoskinson (@IOHK_Charles) December 10, 2022

Catastrophic impact XRP lawsuit

In a December 10 video, Hoskinson said the outcome of the lawsuit could have a catastrophic impact on the industry. “I heard rumors that the lawsuit between Ripple and the SEC could end on December 15, which could have catastrophic consequences for the industry,” said Hoskinson.

Yet he is also optimistic about the future. “But regardless of what will happen, it is a decentralized ecosystem that the users have control over. The United States of America does not have the power to determine whether Cardano lives or not, you do, that is the power of a decentralized ecosystem,” Hoskinson continued.

Hoskinson therefore sees possible bears in the road for the centralized branch of the industry. If the SEC wins this case and Ripple’s XRP token does indeed qualify as a security, it could just disappear from all exchange platforms and other tokens may suffer the same fate.

Ripple community is not happy

Incidentally, the Ripple community is not happy with Hoskinson’s interference, which they believe is mainly negative about Ripple and the XRP token. There is a feeling within the crypto community that Ripple might settle the matter in its favor, but Hoskinson is not going along with that for now.

Last week, another crypto CEO also believed that Ripple will lose the case against the SEC.

Furthermore, it is also important to see that different legal experts hold opposing views. Ultimately, that makes it difficult to predict the outcome of the case. The fate of Ripple and the XRP token is now in the hands of the US court.