XRP CEO’s recent remarks on Ripple intrigue an intuition that the organization’s extensive legal battle with the SEC may be approaching its end. As a result, the organization’s currency, XRP -1.23%, is rising in value and more users are active with the network.
When asked if Ripple was in current discussions about settlements with the SEC. Ripple CEO Brad Garlinghouse mentions, “Very soon”. He references an earlier conversation with Bloomberg in which he states that he predicts all outstanding legal matters to be in settlement.
The Latest Trends in XRP Activity
Stuart Alderoty, chief legal officer of Ripple, wrote on X to commemorate the first anniversary of Judge Analisa Torres’s merge ruling on the long-term legal dispute. The Court’s decisions on XRP still hold because of its extreme price volatility and the difficulty of forecasting future trends in the cryptocurrency market. It’s seen that XRP investment is likely to have a high risk and may not be appropriate for most investors.
Sentiment, a blockchain analytics tool, reports a recent increase in user activity on Ripple’s XRP Ledger. The quantity of active and officially established identities on Thursday surpasses its maximum point on just one day since March.
How Legal Precedent Shapes Settlement Outcomes
The SEC’s private meeting initially set for last week and expected to result in a settlement announcement, is currently in postponement for next Thursday, July 25. According to the agency’s internet platform, these speculations arise from some cryptocurrency traders.
The private session will cover “Institution and resolution of administrative hearings, settlement of litigation claims, and other topics that involve inspections and enforcement proceedings. Thus, legal precedent has an impact on settlement negotiations
According to The Block’s XRP Price Page, the price of Ripple’s currency has climbed significantly in recent weeks, rising 40% to reach roughly $0.59, even though it reached a fourteen-month low of $0.42 on July 7.
