- The legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) continues without a verdict after several months.
- Rumors suggest that Ripple and the SEC are holding an undisclosed meeting on May 8, which could potentially lead to a settlement.
Ripple Vs. SEC Legal Battle: Rumors of Undisclosed Meeting Spark Speculation
The legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) continues without a verdict, despite estimates from the XRP community that a decision would be reached by the end of April. However, a recent rumor on Twitter suggests that an undisclosed meeting between Ripple and the SEC is scheduled for May 8, which has sparked speculation of a potential settlement.
Unconfirmed Rumor of Meeting Fuels Speculation
According to a tweet from the Twitter account Blockchain Daily, Ripple and the SEC are reportedly holding an undisclosed meeting on May 8. However, since the source is anonymous and unconfirmed, it should be taken with a grain of salt.
🚨JUST IN: REPORTEDLY RIPPLE AND SEC TO HOLD UNDISCLOSED MEETING ON MAY 8TH – UNCONFIRMED SOURCE pic.twitter.com/LNrUVCloQ1
— Blockchain Daily (@blckchaindaily) May 1, 2023
XRP Community Attorney John E. Deaton Believes Rumor is False
While some are hopeful that a settlement could be reached, XRP community attorney John E. Deaton believes the rumor is false. Deaton believes that a settlement would only come after a ruling by Judge Torres, and only if Ripple wins a big victory, allowing Gensler to save face and score a political victory through a settlement.
Potential Benefits and Concerns Surrounding Settlement
Under certain circumstances, Ripple could potentially benefit from a settlement after a potential victory against the SEC. It would depend on the decision and whether the SEC would appeal. Additionally, Ripple could be concerned about the regulatory safety of its partners. However, a settlement would only be necessary if Judge Torres does not already provide for it in her ruling.
XRP Price Remains Unaffected by Rumor
As of press time, the XRP price has not reacted significantly to the rumor, with XRP changing hands for $0.4657. The market does not seem to give the rumor much credibility.
In conclusion, the legal battle between Ripple and the SEC continues, with no verdict yet reached. While rumors of an undisclosed meeting between Ripple and the SEC on May 8 have sparked speculation of a potential settlement, XRP community attorney John E. Deaton believes the rumor is false. The potential benefits and concerns surrounding a settlement depend on the decision and whether the SEC would appeal.
As of press time, the XRP price remains unaffected by the rumor.