Marc Fagel, a former lawyer of the SEC, says that there will likely be a settlement in the case involving XRP and the Ripple company as President Donald Trump’s administration and Paul Atkins might opt not to follow up on the complaint. The Ripple SEC case is being discussed once again since it is nearing time for US Securities Exchange Commission (SEC) to make its first submission.
According to previous judgments from Judge Analisa Torres, a former US SEC attorney has said that it is probable that they will come to an agreement between them before it goes to trial. The US government official under President-elect Donald Trump may not pursue appeals relating to XRP lawsuit; this also applies if it reaches SEC Chair Paul Atkins.
Ex-SEC Legal Advisor Explains that Settlement in the Ripple SEC Case is Most Likely
According to Marc Fagel, a former SEC enforcement attorney, who wrote on January 6th for the crypto community. The government agency did not lose but won partly and lost partly. This necessitates a settlement between the two firms as Ripple and SEC appealed against the part they had lost.
“Because both parties appealed the part of the case they lost. So the penalty is on hold pending appeal,” he added. The court ordered Ripple to pay $125 million while selling unregistered securities valued at $700 million to institutional investors.
Marc Fagel feels that chances of new SEC administration choosing not to pursue an appeal are higher, which will make parties settle Ripple SEC case on what court ruled. However, he confirmed that Gary Gensler’s SEC will file its appeal by January 15th.
Expect May End Timeline for XRP Lawsuit
Lawyer Jeremy Hogan has opined that the Ripple SEC case might come to an end in April or May as reported by CoinGape Media. This will not be before then because there is a lot of time consumed in order to get reports, memos, requisite SEC meetings and others.
Moreover, he responded today once again that Paul Atkins will likely drop the appeal and settle with Ripple to finalize XRP litigation come 2025.
What’s Next Under Paul Atkins?
According to experts and the crypto community, Ripple SEC case’s end may increase chances of XRP ETF approval. It could also spark off a rally on XRP price.
On Sunday, CEO Brad Garlinghouse wrote a post criticizing the SEC under Gary Gensler saying their actions “froze our business opportunities here at home for years.” He adds that of late 75% of open jobs positions at Ripple are now US-Based and they have signed new deals within America over the last six weeks.
At the same time analysts anticipate another double-digit rally in XRP prices like when it surged by 400% after Trump was re-elected.
In the short-term, there will be a consolidation of XRP price within this range for several weeks before rallying to form a new all-time high as CrediBULL Crypto analyst suggests. “Right now the current price is around where I closed my last long trade. We have broken some liquidity above us into local supply. Currently eye-ing up the orange zone for another potential long trade,” he predicted.
