Ripple v SEC Lawsuit Resolution Incoming? CEO Brad Garlinghouse Chips in

Long summary

• Ripple has gained an advantage in its legal battle with the SEC, winning several partial court victories and acquitting senior executives of charges.
• Speculation about an imminent resolution likely sent the price of XRP soaring, briefly making it the sixth-largest cryptocurrency.

Big news on the horizon?

The legal battle between Ripple and the US Securities and Exchange Commission (SEC) dates back to December 2020, when the regulator accused the company and some of its executives of conducting an unregistered securities offering via certain XRP sales.

The lawsuit has gone through countless developments over the past few years before entering the trial phase in April 2024. Some believe that Ripple has gained the upper hand due to securing three partial court victories throughout 2023.

The first (and perhaps most significant so far) incident occurred about a year ago. At the time, Judge Torres to rule The Company’s sales of software for secondary trading platforms do not constitute offers of investment contracts.

Shortly after, the judges rejected the agency’s intention to appeal the decision.while Ripple CEO Brad Garlinghouse and CEO Chris Larsen He was Filtered From all the charges brought by the committee.

The final decision in the case has not yet been announced, and it could drag on indefinitely due to the complexity of the legal process and the possibility of appeals from both sides. On the other hand, some experts believe that reaching an agreement is imminent.

American lawyer Jeremy Hogan believes that the official end may come before the end of the summer, while Fred Rispoli believes that the end of the season may come before the end of the summer. hiring July 31 is a possible settlement date.

Ripple CEO Garlinghouse also weighed in on the matter, Imagine He said he expected a resolution to be reached “very soon.” He would not disclose whether his company and the SEC were in settlement talks yet, saying there was “one last piece” to be done before the case was finalized:

“The judge was clear on the ruling. There is one last part about investment contracts sold to institutions. We expect the solution very soon., but we I can’t predict exactly when the judge will issue his ruling there.

XRP Price Prediction

Growing expectations that the case is nearing its end may be among the factors that have positively impacted XRP’s valuation recently. The token’s price briefly surpassed $0.63 on July 18, a level last seen in March, while its market cap rose above $34 billion before falling back to $32.5 billion. Thus, for a time, XRP was had become 6th largest cryptocurrency.

For those who would like to learn more about the Ripple v SEC lawsuit and how it could further impact the token’s price, feel free to take a look at our dedicated video below: