• Ripple and SEC are set to have a secret meeting next week which could potentially lead to an end of the 2-year legal feud between them.
• The XRP community is hopeful that this meeting may result in a settlement, while other analysts believe it unlikely.
• Attorney John Deaton believes that any potential settlement will only occur after a summary judgement, which has been delayed yet again.
Rumors of Secret Meeting Between Ripple and SEC
There are rumors circulating that Ripple and Securities and Exchange Commission (SEC) will have a secret meeting next week with the hope of entering into a settlement negotiation that can potentially bring an end to the current lawsuit the commission filed back in December 2020. This has ignited speculation amongst the XRP community as they anticipate a possible end to this long legal battle.
Anticipation of Summary Judgement
Prior to this recent update, the broader crypto ecosystem has been anticipating the summary judgment from Judge Torres who has been presiding over the case all these while. Analysts have speculated that Ripple’s chances of coming out triumphant in this case are high due to information showing SEC’s poor success rate in cases presided over by Judge Torres. However, delays on delivering this summary judgement have further fueled speculations on whether or not there could be a potential settlement between both parties instead.
Uncertainty Over Settlement Possibility
While many remain optimistic about settling out of court, crypto-friendly attorney John Deaton believes such a move is unlikely at this stage as there must first be at least a summary judgement which is favorable towards Ripple before any potential settlements can occur. Furthermore, he noted that this judgement would encourage the regulator to fight for any settlements instead.
Speculation Amongst XRP Community
The prospects of an impending settlement have further helped re-energize the XRP community as they speculate what may come out from this upcoming meeting between both parties. Despite differing views on whether or not it will lead anywhere, many are hopeful for some sort of closure to finally put an end to their long wait for justice in regards to their investments in XRP tokens.
It remains uncertain how things will pan out following this upcoming secret meeting between Ripple and SEC; however one thing is certain: The outcome will definitely affect how investors view blockchain payments firm going forward and its influence on cryptocurrency markets globally.