Excitement Grows Ahead of Potentially Favorable Ruling for XRP
Former SEC official Marc Fagel has dismissed rumors of a possible settlement between the Securities and Exchange Commission and Ripple. Despite speculation about closed-door meetings on a potential settlement, Fagel clarified that routine meetings were not indicative of an imminent resolution to the case.
- Fagel indicated that weekly meetings were common since the lawsuit began.
While discussions persist regarding a possible settlement, both parties have maintained their positions, opting to let the court make the final determination. Pro-XRP lawyer Fred Rispoli shared his views on the likelihood of a pre-judgment settlement, suggesting that it may not be feasible at this point, although negotiations on outstanding issues could occur.
- Rispoli anticipates a court judgment soon, potentially by the end of the month.
The SEC has requested a fine of $102.6 million, significantly less than their initial claim of nearly $2 billion. However, Ripple has proposed a penalty of only $10 million. Rispoli predicts that the final judgment may result in a penalty of less than $25 million and zero disgorgement for Ripple.
XRP Enthusiasts Optimistic about Price Surge Ahead of Verdict
XRP’s recent price increase has generated optimism within the XRP community as they anticipate the court’s ruling. With a price surge of over 38% in the last week, supporters believe that a significant rally may be on the horizon for the digital asset. Confidence is also high that Judge Analisa Torres will rule in favor of Ripple, potentially awarding penalties far below the SEC’s demands.
- Many believe that a favorable ruling could propel XRP towards its $1 price target.
Analysts like JackTheRippler have previously speculated that XRP could soar to $100 once the legal battle between Ripple and the SEC is resolved, further fueling investor optimism.
Hot Take: The Future of XRP Hangs in the Balance
Rumors of a potential settlement between the SEC and Ripple have been dismissed by former SEC official Marc Fagel, who highlighted the routine nature of closed-door meetings amidst ongoing discussions. While both parties continue to engage, a pre-judgment settlement appears unlikely at this stage.
With the SEC seeking a reduced fine and Ripple proposing a significantly lower penalty, the court’s upcoming judgment will undoubtedly shape the future of XRP. As prices surge and optimism grows within the XRP community, the outcome of the legal battle could set the stage for significant movements in the digital asset’s value. Investors eagerly await Judge Analisa Torres’s final ruling, anticipating its impact on XRP’s trajectory.
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