XRP Bulls on the Rise as Ripple v. SEC Lawsuit Nears End

As the sun sets on the lengthy legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC), the crypto community is abuzz with optimism for the future of XRP. Bill Morgan, a crypto lawyer and XRP enthusiast suggests that recent events indicate a potential positive outcome for Ripple.

Sunday evening I go for a walk, snap a photo, look at it later and finally see the sign. The sun is setting on the Ripple case & I think it is a good portent for XRP. Then early this morning my time Binance is sued. Hinman emails soon to be released. Lucky I’m not superstitious pic.twitter.com/JRrCIKbHxb

— bill morgan (@Belisarius2020) June 5, 2023

Binance Lawsuit Provides Hope For RIpple 

The SEC’s recent lawsuit against Binance, the company running Binance.US, and its founder and CEO, Changpeng “CZ” Zhao, has sparked hope for a quicker resolution to the Ripple lawsuit. The legal action against Binance, alleging violations of federal securities laws, has stirred up the crypto community.

Coinpedia has covered the SEC v Binance lawsuit in depth. Read here: Binance Faces SEC Lawsuit: $700M Withdrawals and Metaverse Tokens Plummet! – Coinpedia Fintech News

XRP Community Reacts

In response to the Binance lawsuit, many in the XRP community view the move as a broader attack on the cryptocurrency industry. Morgan echoes these sentiments, calling for unity in the face of the SEC’s aggressive stance. Ashley Prosper, an XRP community member, suggests that the SEC’s focus on Binance may hasten the end of the Ripple lawsuit.

Brad Garlinghouse, Ripple’s CEO, predicts a swift resolution to the case, estimating a timeline of “weeks, not months.” Ripple’s recent quarterly report reflects similar optimism, expecting a decision on summary judgment in 2023, although the ultimate decision rests with the court.

Will we get a resolution in June? Read here: Experts Believe Ripple Vs SEC Lawsuit Will End In June: Decoding The Possibility