Update on Ripple’s lawsuit against SEC on July 22

TL;DR

Speculation about a Ripple-SEC deal has increased due to a closed meeting by the agency on July 25. Ripple CEO Brad Garlinghouse and lawyers suggest a deal could happen soon, with the regulator scaling back its demand, signaling possible progress. A possible deal or just rumours?

The legal dispute between Ripple and the US Securities and Exchange Commission (SEC) continues, with numerous industry participants trying to guess its final outcome.

One factor that indicates a resolution could be reached is the regulator’s closed meeting scheduled for July 25. Some of the matters that will be discussed during the meeting are “Institution and resolution of administrative procedures” and “Resolution of litigious claims”.

Some X users speculated that the lawsuit against Ripple will also come up as an issue. Others, however, recalled that the SEC holds such meetings fairly regularly and so far has not discussed a settlement with the company.

An official end to the legal battle could involve certain financial aspects. The Commission initially asked for a $2 billion fine on Ripple, while the company insisted on a sum of no more than $10 million. Not long ago, the SEC softened its tone, reducing its demand to $102.6 million.

A deal before the end of the summer?

Some people hoping for a near-term resolution on Ripple’s v. SEC front are US attorneys Fred Rispoli and Jeremy Hogan. The first believes that the entities can shake hands already this month, while the second claims that this could happen before the end of the summer.

Last week, Ripple CEO Brad Garlinghouse also spoke about the matter, saying the process could conclude “very soon.” He declined to say whether the parties are in settlement talks at this time, saying there is “one last piece” before the case is over:

“The sentence was clear from the judge. There is one last piece about these investment contracts sold to institutions. We expect a resolution very soon, but we cannot predict exactly when the judge will rule.”

Those who want to learn more about the lawsuit and how its outcome could affect the price of XRP, feel free to check out our dedicated video below:

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