Ripple vs. SEC: Heres Why Speculation About an Imminent Settlement Is Rising
The upcoming appearance of Ripple CEO Brad Garlinghouse on an X Space has sparked speculation of an imminent settlement of the SEC lawsuit.This rumor gained momentum after the official X account of the XRPL developer community platform, RippleX, announced that Garlinghouse would speak at the XRP Community Day event.For context, the event will be on an X Space today, January 28, 2025. During his speech, Garlinghouse will highlight XRPs biggest milestones, the state of the crypto market, and his 2025 vision for the industry. https://twitter.com/RippleXDev/status/1882864071579480364Speculations about Imminent SEC v. Ripple Resolution In anticipation, some XRP proponents took to X to reflect on the events that followed Garlinghouses previous appearance on X Spaces. Specifically, pro-XRP expert Zach Rector noted that the last time Garlinghouse participated in such an event was after Judge Analisa Torres ruled on the SEC v. Ripple case on July 13, 2023. Recall that Judge Torres issued the summary judgment decision in the lawsuit, granting Ripple a partial victory. Notably, she declared that XRP is not a security in itself and that transactions relating to Ripples other distribution and programmatic sales of the coin do not constitute investment contracts. According to Rector, Garlinghouse participated in an X Space hosted by XRP community members after the court ruling. Interestingly, Rector asserted that Garlinghouse will soon be returning to an X Space, calling on XRP proponents to look out for updates relating to the SEC lawsuit.https://twitter.com/ZachRector7/status/1884021542864183509Meanwhile, other XRP community members, including Edo Farina, speculated that the multi-year lawsuit is nearing its conclusion. However, Farina did not provide details about the rumor, including its source or when the resolution will likely occur. A notable figure in the XRP community, Mr. Intuitive, has raised speculation about whether Brad will announce the resolution of the lawsuit during the XRP Community Day event today.https://twitter.com/BlackberryXRP/status/1884210377690669509 Current Status of the Case In the meantime, the Ripple case is still ongoing in the Court of Appeals for the Second Circuit. The SEC filed its opening appeal brief earlier this month, and Ripple will respond soon. Last week, the crypto payments company asked the court to set April 16, 2025, as the deadline for filing its cross-appeal brief. The court has yet to issue a decision on the request. Meanwhile, Garlinghouse and other Ripple executives, like CLO Stuart Alderoty, are confident that the SEC will abandon the lawsuit under new leadership. The SEC is currently being led by pro-crypto commissioner Mark Uyeda, who is serving as acting chairman. Despite Uyedas enthusiasm for crypto, many believe the SEC cannot dismiss the lawsuit under his leadership until Paul Atkins becomes the permanent chair. It remains to be seen whether Atkins will drop the Ripple lawsuit, as Alderoty predicted. Currently, Ripple is engaging with U.S. lawmakers, with rumors suggesting the company is pushing for a resolution of the case and including XRP in the countrys proposed digital asset reserve.
Text source: The Crypto Basic
