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- Bill Morgan, a legal expert in the crypto space, has dismissed rumors of a possible settlement in the Ripple-SEC case, countering speculation fueled by Ripple CEO Brad Garlinghouse’s recent comments.
- Despite the case’s ongoing uncertainty, Ripple’s XRP token has seen a notable price increase amidst market fluctuations.
As the Ripple-SEC legal battle continues, Bill Morgan a prominent figure in the crypto space has debunked the recent rumor on a possible settlement on the ongoing Ripple Vs SEC case. As we reported earlier. As we reported earlier, Ripple CEO Brad Garlinghouse’s recent comments suggesting a potential “showdown” with the SEC had fueled rumors of a major breakthrough. However, legal expert Bill Morgan is pushing back against this narrative
What a load of contradictory nonsense. What is the showdown. That already happened in court. If there is a settlement meeting there is no showdown but a settlement. This is unlikely to happen but if it does it is a compromise not a big win. It means both parties give up something https://t.co/zoEHYKmdIp
— bill morgan (@Belisarius2020) July 25, 2024
The Ripple vs. SEC case, which began back in December 2020, over the years been on the headlines over developments and signs of ending. The SEC argued that Ripple’s native token, XRP, constitutes an unregistered security, while Ripple contends that XRP is a digital currency.
The stakes are high, with Ripple facing potential restrictions on its operations and significant financial penalties. The recent rumor pushed the prices higher, making XRP one of the performing Assets in the divided market.
The anticipation reached a fever pitch following the rescheduling of a crucial closed-door meeting between Ripple and the SEC, initially set for July 18 but postponed to July 25. This delay sparked a surge in XRP prices, with the token experiencing a notable increase of over 13% in the past week alone. Investors and traders are eagerly watching for any signs of a resolution.
Brad Garlinghouse’s ‘Showdown’ Hint
In a recent X post, Ripple CEO Brad Garlinghouse hinted at a significant development on the horizon, describing it as a possible “showdown.” This comment has been interpreted by many as an indication of a potential settlement or major resolution in the ongoing legal clash
XRP Market analysis
Over the weekend, Xrp has been one of the performing assets, considering the market has been slit in performance. Among crypto assets like Bitcoin and Solana, XRP has been green throughout the weekend. On the other hand, Assets such as Ethereum and Toncoin have been bleeding. This was orthodox to what the general market has been reacting in the past.
At the time of press, XRP is still the 7th largest crypto Asset by market cap trading at $0.6072 according to Crypto News Flash Data. Over the last 7 days, Ripple’s XRP has gained 2,6% and hovered around the same price in the last day, registering a 1% gain.
Although the last week could not be considered volatile for XRP, on Wednesday the asset hit a weekly high of $0.632.
