Expectations around the Ripple-SEC case appear to be at an all-time high as new rumours regarding a conclusion to the well publicised legal dispute have arisen on Twitter.
Ashley Prosper, a member of the XRP community, enumerates a number of occurrences that they believe may indicate that the case may be resolved more quickly. They make reference to Brad Garlinghouse, the CEO of Ripple, who stated that the litigation will be concluded in “weeks” as opposed to “months.” The XRP community member “digitalassetbuy” made a statement on the case being concluded that the Ripple CEO found amusing.
The June 13 publication of documents belonging to former SEC employee William Hinman is also mentioned in “Ashley Prosper”.
Furthermore, Ripple has advanced significantly, as seen by its purchase of custodial service provider Metaco. This prompted a congrats message from Nasdaq.
The biggest outbound personal remittance service in the United Arab Emirates, Al Ansari Exchange, partners with Ripple’s CBDC platform, and On-Demand Liquidity (ODL) partner Tranglo.
These occurrences had a favourable impact on the price of XRP. He thinks that none of these suggests “a company that’s about to lose a lawsuit and disappear any time soon.”
To further emphasise his conviction that the litigation will soon be resolved, the XRP community member stated, “All we need now is for Jim Cramer to come out and say the Ripple case will never end in June.”
Jim Cramer, anchor of CNBC’s Mad Money, is frequently made fun of for offering suggestions and advise that contradicts what he says.
Ripple expects decision in 2023
While anticipation for a speedy conclusion to the litigation is growing, Ripple insisted in its most recent quarterly report that it anticipates a ruling in 2023. The court will ultimately decide the time, though.
The XRP community believes that Ripple will benefit from the recent settlement in the insider trading case involving the former Coinbase manager. The founder of Dizer Capital, Yassin Mobarak, thinks Ripple would benefit from the settlement in the SEC v. Wahi case.
In one of the earliest significant insider trading instances in American history, the Securities and Exchange Commission (SEC) of the United States said it had achieved a definitive settlement with former Coinbase Product Manager Ishan Wahi.
