Ripple Lawsuit To End In A Settlement?

February 13, 2024 7:38 pm Comments

Speculation continues to abound regarding the conclusion of the ongoing Ripple lawsuit.

Will there be a settlement? Will the SEC be able to extract at least some concessions from Ripple Labs? These are just some of the questions the crypto community is hotly debating at the present moment.

Attorney James Murphy recently made an appearance on the Thinking Crypto podcast to share his thoughts on the matter.

Murphy said that he believes political headwinds brought forward by the 2024 elections will cause a change in the SEC’s leadership and the broader political climate.

It’s no secret that Democrat politicians are openly hostile toward crypto and that support for the nascent blockchain industry falls on party lines. Take a look at what Murphy and others had to say about the possibility of a settlement:

Bitcoinist dissected Murphy’s perspective:

Murphy commended US District Judge Analisa Torres for granting Ripple a partial win and acknowledging the blockchain firm’s sale of XRP tokens to institutions as securities.

Murphy further noted that as the lawsuit progresses, the SEC and Ripple will likely appeal the court’s decisions. The SEC argues that many institutional sales were conducted outside its jurisdiction.

Jack The Rippler, a popular, pro-XRP influencer, likewise speculated that the lawsuit might be settled this year for $10 million; however, this seems highly unlikely due to the incredibly low settlement amount.

The Crypto Basic provided a counter perspective:

However, Seedstarter founder Jesse Hynes has dismissed every settlement rumor. According to Hynes, any rumors regarding a settlement are nonsense until it eventually happens.

The legal expert, who has closely followed the SEC v. Ripple legal tussle, noted that settlement discussions are only leaked to the public if one of the parties in the lawsuit plans to use it for power play.

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