Recent comments from Ripple’s CEO have sparked speculation that the company’s years-long legal battle with the SEC could be coming to an end, which could send the company’s price soaring. Ripple (XRP)
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Ripple CEO Brad Garlinghouse declined to comment in a recent Bloomberg interview on whether Ripple was in active settlement talks with the SEC, but said he expected the outstanding legal issues to be resolved “very quickly.”
Ripple’s Chief Legal Officer, Stuart Alderotti, recently wrote to X on the one-year anniversary of Judge Analisa Torres’ split decision on a years-long dispute, saying, “While our case is not entirely over (remedies have not yet been determined), the court’s ruling that XRP is not a security is unlikely to change (even the SEC has said it will not challenge that conclusion in court).”
Blockchain analytics platform Santiment reports that Ripple’s XRP Ledger has seen a recent uptick in user activity, with Thursday’s number of active addresses and new address creation hitting their highest single-day levels since March.
Some cryptocurrency traders had speculated that a private SEC meeting scheduled for last week could result in a settlement announcement, but according to the agency’s website, the meeting has been postponed to next Thursday, July 25. The subject of the private meeting is “the establishment and settlement of administrative proceedings, the resolution of litigation claims, and other matters relating to the examination and enforcement process.”
According to The Block’s XRP price page, the price of the Ripple token hit a 14-month low of $0.42 on July 7, but has seen a significant increase in price in recent weeks, rising 40% to around $0.59.
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