The XRP community remains hopeful for a resolution in the ongoing Ripple vs SEC legal battle, which has lasted over four years. However, recent comments from legal expert Marc Fagel have dampened that optimism.
Discussion of Potential Settlement
Marc Fagel, a former SEC attorney, stated that any potential settlement does not have a specific date and depends on the outcome of the current appeals. He emphasized that it may take up to two months for the SEC's appeal to be resolved, making a resolution before mid-August unlikely.
Court Denies Settlement Request
On June 26, Judge Analisa Torres rejected a joint request from Ripple and the SEC to reconsider the penalty. Both parties had proposed to reduce the fine to $50 million and lift the ban on Ripple's institutional sales of XRP. The court maintained the original $125 million fine and the injunction, as it found no exceptional circumstances to justify altering the previous decision.
Ripple's Plans and Market Reactions
On June 27, Ripple dropped its appeal in the lawsuit against the SEC. This event significantly boosted investor confidence in XRP, leading to a 3.5% increase in its price. However, as of now, XRP is trading at $3.30, which marks a 5% drop in the last 24 hours.
The situation surrounding the Ripple vs SEC case remains uncertain. Despite optimism from the XRP community, the legal outlook raises many questions. Ripple aims to focus on technological innovations and business growth, which could significantly impact the future development of the XRP token.
