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Ripple Lawsuit to Settle in June? Fresh Speculation Arises Following These Events

Wed, 05/31/2023 - 11:55
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Tomiwabold Olajide
Ripple has made significant strides
Ripple Lawsuit to Settle in June? Fresh Speculation Arises Following These Events
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Expectations regarding the Ripple-SEC lawsuit seem to be bursting as fresh speculation on a resolution in the much-publicized legal battle have surfaced on Twitter.

An XRP community member, Ashley Prosper, lists a series of events that they think might point to a quicker resolution of the lawsuit. They refer to Ripple CEO Brad Garlinghouse's prediction of the lawsuit being resolved in "weeks" and not "months." The Ripple CEO also liked the comment of an XRP community member, "digitalassetbuy," on the lawsuit being over.

"Ashley Prosper"  also mentions the June 13 disclosure of documents belonging to former SEC employee William Hinman.

Additionally, Ripple has made significant strides, as seen by its acquisition of custody service provider Metaco. Nasdaq sent expressions of congratulations in response to this.

Ripple introduces its CBDC platform, and On-Demand Liquidity (ODL) partner Tranglo collaborates with Al Ansari Exchange, the largest outbound personal remittance service in the United Arab Emirates.

The XRP price reacted positively to these events. He believes all this does not point to "a company that's about to lose a lawsuit and disappear any time soon."

The XRP community member added something to emphasize his belief in the lawsuit ending soon: "All we need now is for Jim Cramer to come out and say the Ripple case will never end in June."

CNBC Mad Money host Jim Cramer is often teased for giving advice and making recommendations that go against what he says.

Ripple expects decision in 2023

While expectations are rising for an imminent resolution in the lawsuit, Ripple maintained in its most recent quarterly report that it expects a decision in 2023. However, the timing is ultimately up to the court to determine.

Meanwhile, the XRP community thinks that the recent settlement in the former Coinbase manager's insider trading case seems positive for Ripple. Yassin Mobarak, the founder of Dizer Capital, believes the settlement in the SEC v. Wahi case looks promising for Ripple.

SEC Reaches Settlement With Former Coinbase Manager on Insider Trading Case: Details

As reported, the United States Securities and Exchange Commission (SEC) announced it has reached a final settlement with former Coinbase Product Manager Ishan Wahi in one of the first landmark insider trading cases in the U.S.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.