According to Ripple (XRP) CEO Brad Garlinghouse, the infamous lawsuit with the United States Securities and Exchange Commission (SEC) is coming to an end. Garlinghouse said at the recent ReDEFiNe Tomorrow 2023 conference that he could deliver a ruling within weeks. Garlinghouse’s words gave the impression that a breakthrough was imminent.
New Developments in XRP Litigation
This process has gained momentum in recent weeks due to some new developments. For example, Judge Analisa Torres rejected an attempt by the SEC to seal certain documents. The documents related to the lawsuit will be made public in early June.
They relate to a 2018 speech by former SEC official William Hinman, in which he stated that Ethereum (ETH) is not a security. According to the Ripple camp, the documents could have a significant impact on the classification of encryption and the decision of court cases.
These are all reasons Garlinghouse believes the judge will rule soon. He’s not talking months here, he’s talking weeks.
“I believe the court will make a decision this year. In fact, I think in weeks, not months.”
Ripple looks for a friendlier place
Meanwhile, cryptocurrency companies including Ripple are looking to other countries due to the uncertain climate in the US. Ripple, for example, has significantly expanded its overseas activities over the past year. This speaks to Ripple’s goal of continuing to grow despite the uncertainty in the US, without involving the US market if necessary.
The next few weeks will be extremely exciting for Ripple and the entire cryptocurrency community. As the court ruling looms, traders and investors will begin to prepare for the XRP price reaction. Of course, it’s unclear where the price will go, but expect the court ruling to have an impact on it.
Source of information: Compiled from CRYPTO-INSIDERS by 0x Information.The copyright belongs to the author Roy van Krieken and may not be reproduced without permission