Social Media Crypto Influencer Amonyx recently shared a rumor on his X (formerly known as Twitter) account, suggesting that a settlement between SEC and Ripple might be on the way. According to Amonyx, one of his reliable sources stated that both the parties are tired of the prolonged legal battle, which has lasted for nearly four years now and want to see it all end.
🚨Reliable Source Rumor: SEC and #XRP could settle at any moment because both sides are very tired. ⚖️💤
Are you bullish or No 👀#CryptoNews #Bullrun pic.twitter.com/dZ8L7sI20t
— Amonyx (@amonbuy) October 9, 2024
The SEC’s recent appeal and filings indicate a complex legal landscape, but there are speculations around the negotiation ending soon. Ripple has experienced significant fluctuations in XRP’s price amid these developments, with traders expressing their support for XRP’s favorable outcome.
SEC’s Form C and Ripple’s Cross Appeal Complexities
After SEC filed for an appeal against Judge Torres’s ruling, Ripple’s CLO Stuart Alderoty made it public that they are also considering a cross-appeal. To file a cross-appeal, Ripple has only 14 days from October 3, the day when SEC filed the appeal. Filing for a cross-appeal would be Ripple shooting in the dark as SEC is also yet to file Form C.
Form C clarifies which aspect of Judge Torres’s ruling does SEC wish to challenge. Once the Form C is filed, Ripple would know which ruling is SEC filing an appeal for and can file a cross-appeal accordingly. SEC has a deadline till October 17 to file for Form C. If SEC fails to file the Form C, Ripple can take a step and ask for motion to dismiss SEC’s appeal.
The Possibility of Settlement
As per the influencer’s reliable source, with the complexity of the case there are chances that both the parties are actually fed up of the drama and with Fred Rispoli’s timeline prediction, none of the parties wish to extend this till 2026 and hence there is a possibility of settlement.
With such rumors going around, some legal experts express skepticism. Former SEC attorney Marc Fagel stated that a settlement is unlikely, citing the SEC’s goal of establishing regulatory precedents rather than merely seeking financial penalties. Also, Ripple’s CEO Brad Garlinghouse and CLO Stuart Alderoty have also stated that they would fight till the end in order get the blurry lines cleared as far as the regulatory guidelines are concerned.
With the complexity of this case, we can only wait and watch as to what happens, do SEC and Ripple fight in the court or opt for a settlements instead? Either way, the result will reshape the regulatory guidelines around digital assets and will affect the XRP’s future price along with other cryptocurrencies.
Also Read: XRP’s Journey to Reclaim $1: When Will It Happen?
Source: https://www.cryptonewsz.com/influencer-suggests-sec-ripple-might-settle/