The long-standing Ripple vs SEC legal battle continues to attract significant attention, with recent speculation surrounding a potential settlement between the two parties. However, a former SEC lawyer has dismissed these claims, indicating that a final judgment is likely soon.
While the case has initially yielded significant results for the cryptocurrency, with a partial victory for Ripple in determining the non-security status of XRP, the ongoing dispute over institutional sales continues to drag out and influence the token’s performance.
Settlement Rumors Dismissed
Amid the growing speculation fueled by a recent SEC closed-door meeting, Ripple’s 150 million XRP transfer, and comments from Ripple CEO Brad Garlinghouse, former SEC securities lawyer Marc Fagel has clarified that there is no evidence to support the notion of a settlement. Fagel emphasized that a settlement approval would typically require a public court filing, which has not occurred.
Focus Shifts to the Final Judgment
Instead, Fagel predicts that Judge Torres will issue a final ruling on the remedies phase of the case in the coming weeks. This aligns with previous statements from lawyers involved in the case, such as Bill Morgan and Fred Rispoli, who anticipate a final judgment on penalties by the end of July or early August.
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XRP Price and Market Activity
The protracted legal battle has greatly affected the XRP price, with recent speculation driving a surge to $0.63. While the price has pulled back slightly, it remains above key moving averages, indicating potential for further upside. Trading volume has also increased, suggesting growing interest in the cryptocurrency.
Additionally, derivatives market activity points to bullish sentiment. Options traders are placing bets on XRP reaching $0.70, and futures open interest continues to rise. This suggests that investors are anticipating further price increases.
While the Ripple vs SEC case continues to evolve, the recent clarification from a former SEC lawyer has shifted the focus back to the anticipated final judgment. As the case nears its conclusion, the XRP market remains volatile, influenced by legal developments and broader market trends.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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