The Final Stage of the Battle is Yet to Come
The legal dispute between Ripple and the US Securities and Exchange Commission (SEC) has been ongoing for almost four years. In December 2020, the SEC filed a lawsuit against Ripple, accusing it of selling billions of XRP tokens without proper registration as a security. Both parties presented their arguments in court, with the peak of the battle occurring in July when a federal judge ruled in favor of Ripple, stating that XRP sales did not constitute investment contracts.
However, the SEC appealed the decision in September, only for the judge to dismiss their intention earlier this month. This second victory for Ripple caused a significant increase in the price of XRP and generated excitement in the crypto industry. Despite this, the final act of the legal battle is scheduled for April 23, 2024.
Is the SEC Doomed to Lose?
Analysts believe that Ripple’s recent court wins indicate an impending victory. Prominent US attorney Jeremy Hogan predicts that the SEC will likely seek a settlement with Ripple and the individual defendants, giving it a 19% probability by December 2023. Others, like Yassin Mobarak, founder of private equity firm Dizer Capital, think that the SEC may drop all charges against Ripple and its CEO Brad Garlinghouse to avoid exposing corruption during a trial.
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