bullish

when

<ul> 
 <li>XRP is in an uptrend mode following the potential Ripple versus SEC settlement claims.</li> 
 <li>Many opinions are linked to the settlement moves, and if affirmed, XRP might soar.</li> 
</ul> 
The cryptocurrency market sentiment fueled a bullish surge for XRP recently as it rode on the ongoing speculations of a likely settlement between Ripple Labs and the United States Securities and Exchange Commission (SEC). As we <a href="https://www.crypto-news-flash.com/xrp-defies-market-trends-with-8-surge-amid-sec-vs-ripple-settlement-speculations/">reported</a> earlier, there has been a consistent buildup in the price of XRP throughout this month as it jumped as high as 8.01% for the first time since April. 
<h2 id="b-legal-experts-concerns-ripple-s-potential-challenges-b">Legal Experts’ Concerns: Ripple’s Potential Challenges</h2> 
So far, the settlement talks remain an arrangement behind closed doors and details remain sketchy as to the terms of the anticipated settlement. However, legal experts have begun giving their opinions on the implications of a possible settlement and whether it would benefit one party over the other. 
As we <a href="https://www.crypto-news-flash.com/ripple-ceo-goes-after-sec-over-crypto-war-how-will-the-xrp-price-react/">noted</a> earlier, the legal conundrum between the SEC and Ripple Labs, initiated in December 2020 purported that the organization, through sales of tokens raised over $1.3 billion illegally. With nearly four years gone, the likelihood of a settlement remains a “showdown.” 
However, Bill Morgan, a pro-XRP lawyer considers the possibility of a settlement as being far-fetched, maintaining that a settlement could trigger certain hurdles which may not serve the interests of either party. According to him, a “settlement” implies compromise on both sides and it will not mean a “big win” for Ripple. 
Notably, Morgan noted that a settlement could set up major obstacles for Ripple, one of which includes other XRP sales by the organization since the SEC instituted the case in 2020, as well as other sales that it will make in future. On the part of the SEC, a settlement means it gives up its right to an appeal. 
Former SEC lawyer Marc Fagel corroborated Morgan’s opinion and misgivings about the Ripple SEC settlement. Fagel maintained that the elimination of the right to an appeal upon settlement could act as a major barrier to the settlement on the part of both parties. 
The former SEC lawyer also referenced the huge fine by the regulators. This might get forfeited with the blockchain payments firm probably exempted from paying it.&nbsp; 
<blockquote>
 “The SEC requested a $1B penalty (plus about $1B in disgorgement + interest). That is the only SEC position before the court. (They won’t get it; but the numbers have not changed),” Fagel noted.
</blockquote> 
<h3 id="b-ripple-s-defense-precedents-and-financial-implications-b">Ripple’s Defense: Precedents and Financial Implications</h3> 
Meanwhile, Stuart Alderoty, Ripple’s Chief Legal Officer stated that the SEC may not receive any entitlement given the precedence established by the Aron Govil case. According to him, if a buyer does not incur any financial loss, the regulatory body cannot claim profit from the seller. 
This stance aligns with an earlier X post by Morgan when he stated that institutional investors did not incur any financial loss. However, the SEC in March claimed that investors incurred $480 million financial loss attributable to Ripple’s purported discrimination during XRP On-Demand Liquidity (ODL) sales. 
As we <a href="https://www.crypto-news-flash.com/xrp-gains-1-76-as-ripple-and-sec-discuss-settlement-terms/">discussed</a> earlier, the settlement terms and discussions dragged on, XRP has been on a bullish rampage. As at the time of writing, XRP trades at $0.6018, up 0.17% in the last 24 hours. 

<div class="cryptoboxes" id="mcw-345586" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="xrp" data-symbol="XRP" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="day" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
</div>

Ripple SEC Settlement: Legal Experts Highlight Major Hurdles for XRP if Deal Goes Through

Table of Contents

Crypto News Flash

Other articles published on Jul 28, 2024

Crypto Jackpot! BlockDAG’s Presale Soars with $61.3M & Eyes on $20 Future; Insights into SUI & Do...

Robert F. Kennedy Jr. Vows To Buy 550 Bitcoin Daily For US Reserve If Elected

Riot Platforms Buys Block Mining for $92.5M

Economy: The end of tax havens for the super-rich? The G20 takes action.

Ethereum — Three Scenarios For The Next Days (And How Likely They Are) — A Personal Opinion!

Subscribers groan as MTN allegedly bar lines over NIN-SIM linkage

Join our free newsletter for daily crypto updates!