Bitrabo Editorial
Speculations have been circulating about potential negotiations between the US Securities and Exchange Commission (SEC) and Ripple to settle the ongoing lawsuit. A former SEC official sheds light on the situation.
Former SEC Official Provides Clarity on Ripple Settlement Rumors
Former SEC lawyer Marc Fagel has dismissed rumors suggesting a possible settlement between the SEC and Ripple. Despite talks about a closed-door meeting for a potential settlement, Fagel clarified that such meetings have been routine since the lawsuit was initiated against Ripple.
While discussions about a settlement between the SEC and Ripple have persisted, both parties have not reached a consensus and have left the decision to the court.
Pro-XRP lawyer Fred Rispoli also weighed in on the situation, indicating that a pre-judgment settlement is unlikely at this stage. The court is anticipated to deliver a judgment on remedies soon, with Rispoli speculating that the ruling could be announced by the end of the month.
The SEC has requested a $102.6 million fine against Ripple, significantly lower than their initial ask of nearly $2 billion. On the other hand, Ripple proposed a penalty of $10 million. Rispoli predicts that the judgment may include a penalty of less than $25 million and $0 disgorgement against Ripple.
XRP’s Price Surge Ahead of Verdict
XRP’s price surge, rising by over 38% in the past week, has instilled optimism within the XRP community, as they anticipate a favorable ruling. The positive price momentum has led to speculations that the court’s decision may lean in favor of Ripple, potentially impacting XRP’s value positively.
Analysts, like JackTheRippler, have even forecasted that XRP could soar to $100 once the legal battle between Ripple and the SEC concludes, further fueling optimism among XRP supporters.