According to CryptoPotato, Ripple has been engaged in a nearly three-year legal battle with the United States Securities and Exchange Commission (SEC) over allegations of selling XRP as an unregistered security. The blockchain enterprise has secured some partial court victories, leading to speculation about a possible early settlement in the case.
In December 2020, the SEC filed a lawsuit against Ripple, accusing it of breaching several laws and selling billions of dollars worth of XRP as unregistered security. Ripple has since secured three vital partial court victories, with a Federal Judge ruling that its programmatic XRP sales did not constitute an offer of investment contracts. The SEC's attempt to appeal the initial decision was dismissed, and Ripple's CEO Brad Garlinghouse and Executive Chairman Chris Larsen were cleared of all charges brought by the watchdog.
A confidential SEC meeting has sparked online speculation about a possible early settlement in the Ripple case. Some Twitter users, such as JackTheRippler and XRP Captain, have hinted at a potential resolution with Ripple being announced in the near future.
Predictions suggest that a Ripple victory could lead to a significant increase in XRP's value, with short-term forecasts ranging from $0.71 to $0.88. Analysts like Dark Defender and EGRAG CRYPTO have laid out short-term predictions, with the former believing XRP might jump to $0.88 at the beginning of December and the latter thinking the coin could finish the year at around $0.71.
