Ripple, the company behind XRP, has been in a legal battle with the US Securities and Exchange Commission (SEC) for years. However, recent comments from Ripple CEO Brad Garlinghouse have led to speculation that this dispute may be resolved soon.
In a recent interview with Bloomberg, Garlinghouse declined to comment on whether Ripple was actively negotiating a settlement with the SEC. However, he said he expects the pending legal issues to be resolved “very soon.”
This expectation of a legal solution increased the price of XRP and led to increased user activity on the network. Blockchain analysis platform Santiment reported an increase in user activity on Ripple's XRP Ledger. Active addresses and new address creations reached their highest single-day level since March last Thursday.
Ripple's Chief Legal Officer Stuart Alderoty recently marked the one-year anniversary of Judge Analisa Torres' mixed decision on the dispute:
“While our case as a whole is not completely over (remedies still have not been decided), the Court's decision that XRP is not a security will not change (even the SEC has told the Court it will not appeal this conclusion).”
Crypto traders speculated that a closed-door SEC meeting scheduled for last week could lead to a settlement announcement. However, according to the institution's website, this meeting has been postponed to next Thursday, July 25. Topics of the closed meeting include initiating and resolving administrative proceedings, resolving litigation claims, and other matters related to investigations and enforcement proceedings.
*This is not investment advice.