TL;DR
Ripple is disputing a $2 billion SEC penalty over XRP sales, advocating for a reduction to $10 million, with predictions suggesting a possible $100 million settlement.
The company has gained partial court victories that bolster its position in the lawsuit.
The lawsuit between Ripple and the United States Securities and Exchange Commission (SEC), which has been ongoing since December 2020, recently heated up with actions coming from both parties.
Last month, the regulator sought a $2 billion penalty on the firm, alleging XRP sales violations. Earlier this week, Ripple’s chief legal officer – Stuart Alderoty – said the company had filed its official opposition to the agency’s request. The entity outlined several important reasons why the fine should not exceed $10 million.
The battle’s future outcome remains uncertain, with numerous industry participants speculating about the next move. One such person who recently gave his two cents is the popular lawyer Jeremy Hogan. He envisioned that the legal spat may be resolved via a $100 million settlement:
“I’m saying that the Judge will order 0 disgorgement but throws the SEC a bone and orders Ripple to pay a $100 million penalty.”
Hogan also believes that “based on what he’s seen so far,” the case might be closed in July or August this year. Recall that it recently entered its final phase, with a trial starting on April 23.
Not long ago, ChatGPT also estimated that a final judgment on the lawsuit may occur this summer. However, the chatbot predicted that potential delays and appeals from both parties could drag the conclusion to 2026.
Crypto X is full of users who believe that Ripple has the better chance to emerge victorious due to the three vital (yet partial) court wins secured last year. The first one occurred in July when Federal Judge Torres ruled that the company’s programmatic sales to secondary trading platforms did not constitute offers of investment contracts.
Shortly after, the magistrates rejected the SEC’s intentions to appeal the initial decision, while a few months later, Ripple’s CEO Brad Garlinghouse and Executive Chairman Chris Larsen were cleared of all charges brought by the Commission.
A decisive win for the firm may trigger an XRP rally, while the opposite scenario could negatively impact the token and the entire digital asset market. Those willing to learn more about the lawsuit and its impact on Ripple’s native cryptocurrency, feel free to take a look at our dedicated video below:
The post Ripple v. SEC Settlement on the Horizon? Attorney Speculates on the Possibility appeared first on CryptoPotato.
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