Ripple vs. SEC: Ongoing Legal Battle

The long-running legal tussle between Ripple and the U.S. Securities and Exchange Commission (SEC) is dragging into overtime. The case is reportedly getting into a last-minute fight as both parties should be deciding over the terms.

Reports revealed that two well-placed sources expect that final negotiations might be underway. However, crypto lawyer Jeremy Hogan suggests that the only way it could be resolved soon is through a private settlement agreement.

Hogan hints at a private deal to skip court date

Jeremy Hogan in a post mentioned that the SEC and Ripple could privately agree on settlement terms. This move will involve dismissing the appeal so that neither party takes the settlement back to court for ratification.

It would be possible only after assuming that the SEC will agree not to enforce the court’s injunction. It looks very hard that the commission will pursue this option, but it could allow Ripple a path to register sales of XRP to institutional investors without admitting wrongdoing.

Hogan noted that this is the only way he can see the case being resolved anytime in the next couple of days or weeks. His assumptions are tied to revelations from Eleanor Terrett, a former Fox journalist, who mentioned that there is no real playbook explaining why this case is taking longer to resolve than others.

The crypto lawyer stated that the parties could not move toward the appellate court to approve the judgment, simply because appellate courts lack jurisdiction to impose or enforce judgments.

XRP outshines Bitcoin and Ethereum

The SEC initially accused Ripple of raising $1.3 billion through unregistered XRP sales. Currently, Ripple is challenging parts of Judge Analisa Torres’s 2023 ruling, including a $125 million penalty over institutional XRP sales.

However, Gary Gensler’s departure from the SEC has delivered fresh hopes to Ripple and the XRP community as prices surged after Donald Trump’s presidential election win.

XRP price increased by around 230% in one year, marking a comeback into the top 5 cryptos. Despite a recent crash, XRP remains up by 9% year-to-date, while Bitcoin and Ethereum fell by 11% and 43%, respectively, over the same period.