- JackTheRippler states that the Ripple lawsuit will settle within the 14-day appeal period.
- SEC lawyer Marc Fagel dismisses the statement, adding that it has no practical basis.
- Bill Morgan posits that the settlement seems doubtful despite being technically possible.
The Ripple lawsuit, one of the most protracted high-profile cases in the crypto industry, has sparked intense discussion about its settlement and the aftermath for XRP’s legal status. Analysts speculate that the long-running Ripple lawsuit might find a conclusion in a 14-day appeal period, igniting heated debates.
An XRP enthusiast predicted that the legal proceedings surrounding Ripple and its XRP token would potentially end within the designated 14-day appeal timeframe. In his previous tweet, he posited that the Ripple lawsuit would settle during the 14-period following the SEC’s appeal. He added that the settlement will not alter the status of XRP, affirming that the token will never be considered a security.
🚨BREAKING: The @Ripple and SEC legal proceedings may potentially conclude within the designated 14-day appeal timeframe! #XRP pic.twitter.com/mINI1DJvNj
— JackTheRippler ©️ (@RippleXrpie) October 7, 2024
Since the Securities and Exchange Commission (SEC) filed its Notice of Appeal on October 2, the XRP community has discussed the potential implications of the move. Industry figures like Attorney Fred Rispoli predicted that the lawsuit could expect a final judgment no sooner than 2026. Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty slammed the SEC for prolonging the settlement process. While Garlinghouse criticized the agency’s actions as “irrational,” Alderoty labeled the appeal “disappointing but not surprising.”
However, analysts like JackTheRippler remain optimistic, predicting a sooner-than-expected resolution to the case. The analyst stated that the SEC’s appeal primarily targets the penalty amount imposed on the company. While Judge Analisa Torres imposed a $125 million penalty, the agency is seeking a larger sum.
Ripple Vs. SEC: Institutions Eye XRP Amid Legal UncertaintySEC lawyer Marc Fagel provided further clarity on the matter, dismissing the analyst’s claims on the SEC’s focus on penalty. He further stated that there is no practical basis for the settlement. Highlighting the consistency of their move, the lawyer reflected on an interlocutory appeal that the agency filed a year ago. Responding to an X user’s concern, Fagel added that the settlement would not alter the lower court’s decision on XRP’s programmatic and non-cash sales.
Fuelling the debate, XRP advocate Bill Morgan echoed skepticism about the closer settlement. Though technically possible, the settlement seems doubtful, considering the ideological gap between Ripple and the SEC.
