Did Ripple Make Progress in Settlement with the SEC? Experts Explain!

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Legal Experts Reject Settlement Rumors in Ripple Case
  • Settlement rumors in the Ripple and SEC cases are dismissed by attorneys.
  • Bill Morgan rejected leaks, emphasizing confidentiality in such matters.
  • Jesse Hynes reiterated that Ripple has not yet definitively won.

The lawsuit between Ripple and the SEC, which has been contentious since December 2020, has yet to see a definitive outcome. However, recent speculation has sparked debates within the crypto community. In a recent development, the possibility of Ripple settling soon was rejected by legal experts.

Legal professionals decisively dismissed community participants evaluating the settlement possibilities in Ripple’s ongoing case. Even if such a settlement were to occur, it would likely be confidential, and until an official announcement is made, rumors should not be trusted.

Lawyer Bill Morgan emphasized that settlement negotiations are confidential and privileged, warning against giving credibility to circulating rumors. Similarly, Jesse Hynes, the founder of the Equity Crowdfunding platform Seedstarter, stressed the need not to trust such rumors.

Jesse Hynes stated that there would be no leaks on such matters. He also mentioned that Ripple has yet to definitively win, indicating that there is still a possibility of Ripple losing. Despite Ripple declaring victory, the court has not yet made a decision, and the SEC still has an appeal pending.

Former securities lawyer Marc Fagel took a sarcastic approach to settlement rumors related to the case. He highlighted the confidentiality of such discussions and emphasized that there would be no leaks.

The lawsuit, which began in December 2020, has posed numerous legal challenges for Ripple. Despite legal proceedings and fluctuations in the price of Ripple’s XRP token, Ripple has seen some notable favorable decisions in court. The determination that XRP may not be a security in some cases and the dismissal of the SEC’s lawsuit against Ripple executives Brad Garlinghouse and Chris Larsen were positive developments for Ripple.

These events were viewed positively for Ripple’s token XRP, leading to a short-term price increase. The XRP token is currently trading at $0.531 and has shown a 0.60% increase in the last 24 hours. Despite some positive rulings, the XRP price weakened as of the beginning of 2024, experiencing a 13% decline since January 1, 2024.

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