Ripple vs SEC Lawsuit: Legal Expert Forecasts Potential Settlement in Current Year, Contingent on a Certain Event!
XRP Surges as Ripple Lawsuit Speculation Grows
XRP has experienced a significant surge of almost 5% in the past week, reaching a high of $0.5380, suggesting a positive trend. This surge can be attributed to two key factors. Firstly, Ripple has successfully obtained a one-week extension for the discovery deadline related to remedies, which was granted by the Court. This development has provided optimism among XRP holders. Secondly, there is ongoing speculation about a potential settlement in the SEC v. Ripple lawsuit, as hinted by crypto lawyer James Murphy. This speculation has further contributed to the positive sentiment surrounding XRP.
The Possibility of a Settlement
During a recent appearance on the “Thinking Crypto” podcast, legal expert James Murphy discussed the potential for a settlement in the Ripple case. He pointed out that the upcoming 2024 election year and the potential for new SEC management could be influential factors. Murphy believes that a change in the SEC’s management, which would only be possible with a crypto-friendly government, could pave the way for a resolution in the case.
Differing Opinions
However, attorney Fred Rispoli holds a different opinion, suggesting that the SEC is likely to appeal the ruling, which could result in the case dragging on until mid-2026. Rispoli criticized Ripple’s approach to contesting the discovery process and proposed that greater transparency in post-complaint sales could have prevented future issues in their sale transactions.
Bill Morgan, a supporter of XRP, responded to Rispoli’s statement, stating that if the SEC appealed Judge Torres’ decision on programmatic sales, they would likely lose. Morgan highlighted that the judge carefully considered the facts of each type of sale, which the SEC themselves admitted were different. He also emphasized that settlement negotiations in legal cases are confidential and will only be disclosed to the public once officially announced.
Ongoing Tensions
In the ongoing SEC v. Ripple lawsuit, a recent filing revealed that the SEC has requested Ripple to submit financial statements for the years 2022-2023. This indicates that tensions between the two parties are still prevalent. Despite efforts, cooperation between the SEC and Ripple has yet to be achieved, potentially leading to a standstill in the legal proceedings.
In conclusion, the recent surge in XRP can be attributed to the extension granted by the Court and the speculation surrounding a potential settlement in the SEC v. Ripple lawsuit. While opinions differ on the outcome of the case, the ongoing tensions between the SEC and Ripple suggest that a resolution may not be reached in the near future.