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Ripple CEO Brad Garlinghouse stated that he now expects an agreement with the SEC in a company he made. Ripple CEO announced that he expects to leave the company “very soon” after its long-running lawsuit with the SEC. In a recent interview with Bloomberg, Garlinghouse hinted at a possible build-up to the years-long legal battle by contributing to the surge in the price of Ripple’s XRP token.
Speculation Triggers XRP Price Increase
The collapse of the agreement led to a significant increase in the price of XRP in recent weeks. This speculation has been fueled by rumors of next week’s planning and closed-door SEC meetings that could potentially result in a settlement announcement.
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According to the analytics firm Santiment’s XRP Ledger, it was seen that it was dispersed, had the highest activity since March, and experienced new address creation. This increase in activity demonstrates increasing user outlook and optimism when implementing XRP.
Garlinghouse expressed confidence that whether Ripple is currently in settlement talks with the SEC, the legal ramifications will be resolved soon. Ripple’s chief legal officer, Stuart Alderoty, recently celebrated the one-year anniversary of the mixed decision in Judge Analisa Torres’ case. Alderoty emphasized that the SEC continues to object in this case because the court ruled that bankruptcy is valid if XRP is not a security.
Upcoming SEC Meeting and Potential Outcomes
The SEC meeting, which was planned to be held behind closed doors for the next week, was postponed to July 25. According to the SEC’s website, the meeting combines topics such as “Modification and resolution of administrative option, resolution of case details, and other matters.” This has led to increased speculation that a settlement announcement could be imminent.
Ripple’s potential settlement with the SEC could be a major turning point for the company and the broader cryptocurrency market, potentially increasing regional treatments and investors’ capacity in the industry.
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