Former SEC lawyer Marc Fagel predicts a final judgment in the Ripple vs. SEC case within weeks.
Ripple CEO Brad Garlinghouse dismisses settlement rumors; final verdict expected soon.
XRP price stabilizes at $0.60 after a 25% rally amid market speculation and high trading volumes.
The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission continues to grip the cryptocurrency community. As speculation mounts about the case’s resolution, former SEC lawyer Marc Fagel has dismissed rumors of a potential settlement.
Fagel predicts that a final judgment will come in the coming weeks, likely by early August. This pivotal case for Ripple and the broader cryptocurrency market could have far-reaching implications, especially as XRP’s price hovers around $0.60 after a significant rally.
Marc Fagel stated that there is no indication of a settlement between Ripple and the SEC. He clarified that, typically, the court would be notified of any settlement negotiations to halt further legal proceedings. However, no such notification has been made. Fagel expects that Judge Torres will issue the final judgment soon, marking a crucial phase in this lengthy legal dispute.
Other legal experts, including Bill Morgan and Fred Rispoli, share similar expectations. They anticipate a ruling on penalties by the end of July or early August. This consensus comes amid heightened speculation, partly fueled by Ripple’s recent movements of 150 million XRP and CEO Brad Garlinghouse’s comments on the matter. However, Morgan has dismissed rumors of a settlement, linking the timing of these speculations to an upcoming SEC meeting.
In the financial markets, XRP’s price has fluctuated following a 25% rally last week. The price surged to $0.63, driven by rumors of a settlement and talks of an XRP exchange-traded fund (ETF).
Despite these gains, the price has since corrected, with XRP trading around $0.60. Market analysts believe a breakout above the $0.65 resistance could propel XRP to $0.75, especially with significant events like the spot Ethereum ETF launch and the upcoming Bitcoin Conference.
Source: Coinglass
Meanwhile, trading activity remains robust, particularly in Asian markets such as South Korea. The derivatives market shows mixed signals, with options traders placing fewer call bets, while futures open interest has seen a slight decline. Notably, Bitget has observed a 4% increase in open interest, suggesting ongoing trader interest despite the price stabilization.
The potential impact on Ripple in anticipation of a favorable outcome could lead to further positive movements for XRP with perhaps a Ripple IPO and/or an XRP ETF in the future.
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