SEC Lawsuit: Ripple Optimistic for a Win in First Half of 2023

SEC Lawsuit: Ripple Optimistic for a Win in First Half of 2023

• XRP price remains bullish as the crypto community anticipates a potential win against the US SEC.
• Ripple CEO Brad Garlinghouse stated he is optimistic that the lawsuit against the SEC will be settled in the first half of 2023.
• Ripple and the SEC have filed their final submissions in December and are seeking the court’s judgment.

XRP price has been steadily increasing since the start of the year, and the crypto community is eagerly awaiting a potential win against the United States Securities and Exchange Commission (SEC). The leading international money transfer token currently trades at $0.3914 following almost a 3% increase in 24 hours.

The CEO of Ripple, Brad Garlinghouse shared his optimism regarding the lawsuit against the SEC during an interview with CNBC on Wednesday. He believes that the case could potentially be settled in the first quarter of 2023. “We’re optimistic that this will certainly be resolved in 2023, and maybe the first half. So, we’ll see how it plays out from here. But I feel very good about where we are relative to the law and the facts,” Garlinghouse said.

The SEC filed a lawsuit against Ripple back in December of 2020, alleging that the blockchain startup and its top executives sold unregistered tokens when raising funds. Ripple has maintained that XRP is not a security but a cryptocurrency, just like Ethereum (ETH) and Bitcoin (BTC).

In December, Ripple and the SEC filed their final submissions and are now awaiting the court’s judgment. If Ripple wins the lawsuit, the crypto community expects that the XRP price could surge to $0.42 or even higher. This could potentially be a major boost to the crypto market.

At the same time, the crypto community is still wary of the implications of the lawsuit and how it could affect the overall crypto industry. If Ripple loses the lawsuit, it could lead to a decrease in investor confidence and could potentially set a precedent for other tokens in the future.

Regardless of the outcome, the crypto community will be closely monitoring the SEC’s lawsuit against Ripple and the potential implications it could have on the crypto market.