- The ongoing legal battle between Ripple and the SEC could be nearing its conclusion.
- After the CEO’s comment, XRP’s price witnessed a 1.73% hike.
- Ripple’s Chief Legal Officer celebrated the anniversary of a significant court ruling favoring Ripple.
Ripple nears resolution with SEC; XRP price sees upliftment.
Ripple CEO Hints at Possible Resolution in SEC Legal Dispute
Ripple’s CEO, Brad Garlinghouse, has indicated that the longstanding legal dispute with the Securities and Exchange Commission (SEC) might be approaching resolution. During an interview with Bloomberg, Garlinghouse refrained from providing specifics about ongoing settlement talks but suggested that outstanding legal issues could be resolved “very soon.”
Significant Legal Milestone Commemorated
Stuart Alderoty, Ripple’s Chief Legal Officer, marked the anniversary of Judge Analisa Torres’s pivotal ruling in favor of Ripple. On the X platform, Alderoty noted that although some issues in the case remain unresolved, the court’s determination that XRP is not a security remains unchallenged by the SEC.
Increased Activity on Ripple’s XRP Ledger
Blockchain analysis firm Santiment has reported a notable increase in user activity on Ripple’s XRP Ledger. There has been a surge in active addresses and new address creations, hitting the highest one-day levels since March. This recent uptick suggests growing engagement and interest within the Ripple community.
SEC’s Deliberations on the Horizon
There has been speculation within the crypto community about a potential settlement announcement following a closed-door SEC meeting initially scheduled for last week, which has been postponed to Thursday, July 25. According to the SEC’s website, the meeting will discuss “institution and settlement of administrative proceedings, resolution of claims, and audit and enforcement actions.”
Conclusion
As Ripple and the SEC edge closer to potentially settling their years-long legal conflict, community activity around XRP is on the rise, indicating robust interest and optimism. Investors and stakeholders will be closely watching the outcomes of the upcoming SEC meeting, which may finally provide a resolution to this high-profile case.
