The legal battle between Ripple Labs and the Securities and Exchange Commission (SEC) may soon be coming to an end. Ripple CEO Brad Garlinghouse recently expressed optimism that the long-running dispute will soon be resolved. Speculation surrounding a possible settlement has sparked a lot of interest within the crypto community.
Progress towards imminent settlement
Brad Garlinghouse recently spoke on Bloomberg Markets: The Close about Ripple's dispute with the SEC. The executive notably declared : “We expect a resolution very soon, but we cannot predict exactly when the judge will render his decision.” The statement comes after Judge Analisa Torres clarified key aspects of the dispute, including the institutional sale of XRP, which is considered investment contracts.
Asked about possible settlement discussions with the SEC, Garlinghouse declined to comment directly. “I can’t comment on that at this time,” he said. However, he emphasized that the only part still in dispute concerns sales of XRP to institutional investors.
Crypto Market Speculations and Reactions
Garlinghouse’s remarks have sparked speculation in the crypto community, with some hoping for a settlement before the end of summer 2024. Furthermore, the anticipation of this settlement has led to a significant increase in the price of XRP. The asset is currently the sixth-largest crypto with a market cap of around $32 billion. It is showing increasing trading activity and interest, fueled by expectations of a resolution to the SEC dispute.
This renewed interest is fueled by the prospect of a crypto-friendly administration under a potential Donald Trump presidency. However, legal experts, such as former SEC attorney Marc Fagel, remain skeptical of a quick resolution. The excitement around XRP is now tied to anticipated regulatory decisions. An SEC meeting scheduled for today could potentially provide definitive news on the crypto asset’s regulatory status.
In short, the possibility of a settlement between Ripple and the SEC remains uncertain, despite Brad Garlinghouse’s optimism and market speculation. The next steps will largely depend on the court’s decisions and the SEC’s movements. In the meantime, the price of XRP continues to fluctuate based on news and investor expectations. The outcome of this litigation could have significant repercussions on the crypto market.
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