Ripple Settles With SEC Dropping Appeal: The End of the Legal Battle?
Apparently, a new wave of rumors is circulating in the crypto community, which states that the US Securities and Exchange Commission (SEC) will officially announce the end of its lawsuit against Ripple Labs. This case has been ongoing for several years now, and XRP holders and industry observers alike eagerly await its resolution. A positive outcome is expected so that Ripple could clear its name and the legal overhang that has been hanging over the cryptocurrency. It could also pave the way for its wider adoption and greater institutional partnerships. Once this issue gets resolved, it is expected to boost the value of XRP, with analysts predicting it could surge to $5 or more. This article will further discuss the things concerning the US SEC and Ripple Labs issue, so keep reading to learn more.
Ripple Settling With SEC by Dropping Appeal, XRP Price Surges
Ripple Labs, a prominent player in the cryptocurrency space, continues to face issues with the US Securities and Exchange Commission (SEC). Since it is affecting market perceptions, there is a much-needed legal clarity. The CEO of Ripple, Brad Garlinghouse, recently announced that Ripple is dropping its cross appeal, and that the SEC is expected to drop their appeal, too. This could officially mean the end of the legal battle between the US SEC and Ripple Labs. It is said that both parties have agreed to drop some parts of the case and follow the required legal procedures before the case is closed. In this final conclusion, it is decided that Ripple will accept a $125 million civil penalty.
Ripple Labs has withdrawn its counter-appeal in the legal battle with the SEC, which marks a potential chance for resolution. Observers note that Ripple is continuing with the standard legal actions, but its recent closed-door meetings raised market expectations, and market participants are closely looking out for further developments in the case.
It seems like the legal dispute between Ripple and the US SEC has officially reached a critical point where both parties will follow standard legal procedures rather than intentionally stalling the case. This clarification was given by the former regional director at the SEC, who had addressed the concerns within the crypto community regarding the delay in the lawsuit. Even though this case is coming to an end, its steps should be formally documented and processed through legal channels. It happens that the judge currently has no further role in this case, and there is nothing left for her to decide.
The former SEC lawyer confirmed that there won’t be any unexpected delays in the proceedings of the case, and that Judge Torres has no pending actions. It is believed that Ripple leadership will be focusing on building strategic initivates once the case is closed. This closure is anticipated to positively affect XRP as the asset’s price rose to $2.92. The market’s optimism is likely to grow for XRP’s future inclusion in broader crypto strategies. It is also said that Ripple may benefit from better financial planning after the case is done with.
Sources claim that insights from the XRP case may offer lessons for future crypto regulatory and technological growth. Community reactions suggest that this resolution of the case appears to be a win for Ripple, as it can potentially increase investor confidence and pave the way for further technological adoption. Note that neither party has filed an official motion to dismiss their appeal yet. Only once this step is completed, this case will be able to proceed toward its official closure. Also, it is believed that the outcome will be entirely in the hands of the involved parties and that the case will progress within a normal legal timeline.
Crypto & Blockchain Expert