In the ongoing legal battle between cross-border payments company, Ripple and the United States Securities and Exchange Commission (SEC), a crypto expert has speculated that a possible settlement may be on the horizon. The recent events surrounding the case outlined by the expert, have indicated a progression to a potential conclusion in the case between the two parties.
Ripple And SEC On The Brink Of Settlement? XRP community member and expert, Ashley Prosper has speculated that the recent legal proceedings observed between Ripple and the US SEC could be key indicators pointing towards a possible culmination of the three-year-long court battle. In an X (formerly Twitter) post published on Friday, April 12, the crypto expert outlined an extensive number of factors and occurrences that suggest the possibility of a legal settlement.
According to Prosper, the Second Circuit’s decision to reject the SEC’s disgorgement in cases lacking financial loss, alongside the SEC’s failure to identify investors who suffered financial losses from Ripple has added weight to Ripple’s defense.
The crypto expert also noted that the SEC’s recent investigations and enforcement actions against Ethereum and crypto exchange UniSwap could be another indication of a possible conclusion of the legal case. By diverting its attention to these projects, the SEC might aim to classify Ethereum as a security, thereby impacting the broader crypto market and its case with Ripple.
Moreover, Prosper speculates that Ripple’s recent announcement to launch a stablecoin and expand into the market hints that a settlement was imminent. This move could suggest that Ripple was moving forward with its business plans, indicating confidence that could be stemmed from a potential settlement.
More Factors That Hint A Potential Resolution In Sight In her post, Prosper uncovered other factors that strongly suggest a forthcoming settlement and the eventual conclusion of the SEC and Ripple case.
The crypto expert disclosed that a settlement conference was slated for April 16th before Ripple could submit a response to the SEC’s remedies brief and demands. This timing could be an indicative factor that both parties may be open to reaching an agreement and possible compromise.
She also highlighted the recent 500 million XRP released from escrow on Friday, April 12. According to Prosper, the April escrow unlock might have been aimed at funding a potential settlement.
Following her statement, Prosper later clarified that no settlement had been scheduled for the specified date and that the 500 million XRP locked within the escrow was not released for settlement purposes.
This underscores that the notion of a settlement between Ripple and the US SEC was purely speculative, as there are currently no reports or statements from either the SEC or Ripple confirming the possibility of a resolution to the ongoing legal battle.
XRP price at $051 | Source: XRPUSDT on Tradingview.com Featured image from Coinpedia, chart from Tradingview.com
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Scott Matherson Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.