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Ripple v. SEC case update: Settlement incoming?

Ripple v. SEC case update: Settlement incoming?

After the United States Securities and Exchange Commission (SEC) held a closed meeting on November 30 to address critical issues, such as the “resolution of litigation claims,” it has given rise to speculations that a potential settlement with Ripple could be near.

Specifically, the regulator previously said that it would hold the meeting “closed to the public” and open only to Commissioners, their Counsel, the SEC Secretary, and other staff members with an interest in the matters, according to the announcement dating back to November 17.

Excerpt from the closed meeting announcement. Source: SEC

While the official announcement does not directly mention the blockchain company or XRP, and the SEC has yet to share the details of the meeting, many in the cryptocurrency community have taken its mention of the ongoing legal disputes as a sign that a settlement could be around the corner.

Supreme Court vs. SEC

Meanwhile, Ripple’s chief legal officer Stuart Alderoty hinted that he expected the securities watchdog to lose its battle against the crypto company, particularly if the case goes to the US Supreme Court, given the SEC’s previous experience with the institution, in an X post shared on November 30.

Indeed, back in early November, Ripple’s CEO Brad Garlinghouse said that he was ready to escalate things and transfer the SEC’s lawsuit against his company to a higher level, in other words, take it to the US Supreme Court, as he explained at an interview during DC Fintech Week 2023.

Elsewhere, the XRP token that has been at the center of the long-running courtroom standoff is currently trading at $0.611, recording an advance of 1.15% on the day, declining 1.58% on its weekly chart, and gaining 1.72% across the past month, according to the most recent data retrieved on December 1.

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