A potential turning point looms in the long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). Ripple CEO Brad Garlinghouse recently expressed confidence in a resolution “very soon,” particularly after a closed-door meeting with the SEC scheduled for next Thursday, July 25th.
This development has ignited speculation about a possible settlement, especially considering the meeting’s postponement from last week. The agenda for this crucial meeting includes discussions on initiating and settling administrative proceedings, resolving litigation claims, and other examination-related matters.
Market Buoyed by Judge Torres’ Ruling
The market’s optimism is further fueled by Judge Torres’ pivotal summary judgment last year. This landmark decision declared XRP not a security, a significant blow to the SEC’s stance and a potential precedent for similar cases like Binance. Ripple’s Chief Legal Officer, Stuart Alderoty, hailed the decision as a check on the SEC’s overreach and urged policymakers for swift legislative clarity to bolster the U.S. crypto sector.
Building on this momentum, Brett Hill, a Bitrue Ambassador, has even projected an exciting future for Ripple, including a potential Initial Public Offering (IPO) and an XRP ETF launch in 2024 or 2025, contingent on a lawsuit victory.
Also Read: XRP Alert: Whale Sells Millions, SEC Heats Up – What You Need to Know Now
Uncertainty Remains, But Hope Prevails
While Garlinghouse expressed optimism, he acknowledged the inherent uncertainty surrounding the precise timing of a final resolution. Despite the remaining unknowns, the upcoming meeting and Ripple’s continued confidence mark a significant step towards potentially ending this years-long legal saga.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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