Recent comments from Ripple's CEO have fueled speculation that the company's years-long legal fight with the SEC could be coming to a close, driving the price of the company's XRP
+2.03%
token up and fueling increased user activity on the network.
While Ripple CEO Brad Garlinghouse declined to comment on whether Ripple was in active settlement talks with the SEC in a recent Bloomberg interview, the executive said he expects resolution of outstanding legal issues "very soon."
Ripple chief legal officer Stuart Alderoty recently marked the one-year anniversary of Judge Analisa Torres's mixed ruling on the years-long dispute, writing on X, "While our case as a whole isn’t fully over (remedies still to be decided), the Court’s ruling that XRP is not a security will not change (even the SEC told the Court it will not challenge that conclusion)."
Blockchain analytics platform Santiment noted that user activity on Ripple's XRP Ledger has recently increased, with active addresses and new address creations on Thursday reaching their highest single-day level since March.
Though some crypto traders speculated that a closed-door SEC meeting planned for last week could lead to a settlement announcement, the meeting has been postponed to next Thursday, July 25, according to the agency's website. Topics for the closed meeting include "Institution and settlement of administrative proceedings, resolution of litigation claims, and other matters relating to examinations and enforcement proceedings."
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Though the price of Ripple's token hit a fourteen-month low of $0.42 on July 7, its price has increased substantially in recent weeks, gaining 40% to reach about $0.59, according to The Block's XRP Price Page.
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