The CEO of Ripple hints at a potential end to the XRP lawsuit on September 21st. Despite some minor gains in XRP’s price, it remains bearish for the week. Brad Garlinghouse, the CEO of Ripple, has raised questions about why XRP is the focus of the SEC lawsuit. He speculates that the case may conclude on September 21st, coinciding with the end of summer. Garlinghouse remains hopeful for a quick resolution, although the exact timeline is uncertain.
In a recent interview, Garlinghouse emphasized the importance of regulatory clarity and mentioned that a decision on the case could be made before the end of summer. He highlighted the unique regulatory status of XRP in the US and criticized the slow pace of regulations in the country. Despite the challenges faced by Ripple, he expressed optimism for a more favorable regulatory environment for cryptocurrencies.
While Ripple continues to navigate legal hurdles, its business outside the US is expanding. The company is currently engaged in a legal battle with the SEC over fines and penalties. Ripple’s CTO, David Schwartz, noted that regulatory challenges are more manageable in other countries, allowing for growth in international markets.
In terms of market performance, XRP’s price is currently around $0.4843, showing a slight increase from the previous day. However, the overall trend for the past week has been bearish, with a 7.38% decrease in price. Former Ripple executive, Sean McBride, predicts that prices may remain low until a ruling is made by Judge Torres.
Ripple recently filed papers related to the SEC’s request for judgment and remedies, as part of their strategy to handle legal proceedings and protect sensitive information. Despite the ongoing legal battle, Ripple remains committed to advancing the adoption of cryptocurrencies and advocating for clearer regulations in the US.
