The fight between the U.S Securities and Exchange Commission (SEC) and Ripple (XRP) is nearly finished. After going through countless battles, it seems that we will soon witness the end of this war. The SEC has decided to exonerate Ripple's CEO and executive chairman. This means they’re getting ready to drop the lawsuit against Ripple.
In case you forgot, or just don’t know, the SEC accused Larsen and Garlinghouse of selling over $1 billion in XRP without properly registering it, which can be seen as fraudulent. The judge working the case agreed that XRP is a security… but only when it’s sold to institutions. When you sell it to the public, it’s not.
John Deaton, one of those Pro-XRP lawyers nobody really likes, shared his thoughts on a potential victory for Ripple against the SEC on his X. According to him, Ripple could settle for $770 million with the cross-border payment settlement company. But they think they can do it for $20 million or less.
“Those who argued that the SEC had a 50-50 chance of winning against Ripple are 100% wrong. It was more like 90-10 in favor of Ripple. If they can make sure they pay $20 million or less then they’ll have achieved a legal victory of 99.9%” he tweeted.
In the past few days, XRP saw an increase in value. It had trouble passing $0.70 but I think it can definitely get there. And when it does, it’ll reach its highest point in the next couple of months.
Another milestone it hit was surpassing Binance coin (BNB) market cap. It now sits at fourth place.
So what’s your take as an investor? Do you believe XRP will keep going up or not?
