TL;DR
Reports suggest Ripple’s legal team is negotiating better terms for the $125 million penalty, with sources indicating that the case could soon be resolved.
Attorney Fred Rispoli speculates that a resolution or significant development might occur before Ripple’s appellate brief deadline, which is scheduled for April 16.
Despite dismissing or pausing several lawsuits against crypto businesses in the past few months, the US Securities and Exchange Commission (SEC) continues to confront Ripple on the legal front.
The tussle dates back to December 2020, but lately, there has been increased speculation that its resolution might be just around the corner.
Fox Business journalist Eleanor Terrett is the latest person to touch upon the matter. She recently revealed that two “well-placed sources” told her that the lawsuit “is in the process of wrapping up and could be over soon.”
According to her information, the delay in reaching an agreement is due to Ripple’s legal team negotiating more favorable terms regarding the $125 million penalty that Judge Torres slammed the company with last summer.
Terrett was told that the SEC’s new leadership had been thoroughly examining the case and is now “seemingly unsure” whether the company breached any rules. Recall that Judge Torres found that Ripple’s institutional sales of XRP tokens violated federal securities laws.
“There’s no real playbook for this kind of thing which could explain why this case is taking longer to resolve than the rest. Stay tuned,” the journalist concluded.
Another person who gave his two cents is Fred Rispoli. Earlier this week, the attorney assumed that a mutual agreement or some kind of a settlement might occur before April 16. This date marks Ripple’s scheduled filing of their appellate brief.
“Although there is no formal reason requiring it, it is reasonable to speculate that the SEC v. Ripple case is resolved–or at least something significant happens–before Ripple’s filing deadline of April 16, 2025. Let’s keep an eye on it…and hope,” the lawyer said.
The final outcome of the case is likely to cause huge volatility for Ripple’s native token. A ruling in the company’s favor could spark a bull run for XRP, whereas the opposite scenario might lead to a significant decline.
The post Ripple v. SEC Lawsuit Update: Is a Game-Changing Resolution on the Horizon? appeared first on CryptoPotato.
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