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Recent remarks from Ripple’s CEO have stoked rumors that the company’s years-long legal battle with the SEC could be ending, hence driving the price of the company’s token up and encouraging more network user engagement.
Although Ripple CEO Brad Garlinghouse refused to say whether the company was in ongoing settlement negotiations with the SEC in a recent Bloomberg interview, the executive indicated he anticipates the resolution of unresolved legal concerns “very soon.”
Writing on X, “While our case as a whole isn’t fully over (remedies still to be decided),” Ripple chief legal officer Stuart Alderoty recently noted the one-year anniversary of Judge Analisa Torres’s mixed ruling on the years-long dispute, saying, “even the SEC told the Court it will not challenge that conclusion.”
According to blockchain analytics platform Santiment, user activity on Ripple’s XRP Ledger has lately surged, with active addresses and fresh address generation on Thursday reaching their highest single-day level since March.
The agency’s website states that although some crypto traders conjectured that a closed-door SEC meeting scheduled for last week may result in a settlement announcement, the meeting has been postponed to next Thursday, July 25. “Institution and settlement of administrative proceedings, resolution of litigation claims, and other matters relating to examinations and enforcement proceedings,” the closed meeting’s agenda notes.
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