"US SEC-XRP Lawsuit May End Soon"

JH Kim

Summary

"There is a possibility that the lawsuit between the U.S. SEC and XRP may soon end," she reported.
"The progress is being delayed as XRP's side is negotiating more favorable terms for last year's ruling," she revealed.
"XRP is currently trading at $2.2066, which is up 4.07% compared to the previous day," she reported.

Eleanor Terrett, a Fox Business reporter, stated on the 12th (local time) via X (formerly Twitter) that "there is a possibility that the lawsuit between the U.S. Securities and Exchange Commission (SEC) and XRP may soon be concluded" and that "the current delay in settlement is because XRP's legal team is negotiating more favorable terms related to the district court ruling from last August."

She continued, "At that time, the judge imposed a fine of $125 million on XRP and ruled to permanently ban the sale of XRP to institutions," adding that "XRP's side is arguing why XRP alone should still be punished when existing virtual asset (cryptocurrency) sanctions are disappearing as the SEC leadership changes."

Furthermore, she explained, "XRP's position is that accepting the existing ruling is tantamount to admitting wrongdoing," and added, "However, even the SEC itself seems uncertain about whether XRP actually violated the law. It's highly likely that the resolution of the XRP case is being delayed unlike other virtual asset companies because it's an issue without precedent."

Meanwhile, as of 02:04 on the 13th, XRP is trading at $2.2066 on the Binance Tether (USDT) market, up 4.07% from the previous day.