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XRP Lawsuit: Ripple-SEC Settlement Rumors Debunked by Experts

XRP

Speculation surrounding a potential settlement in the XRP lawsuit between Ripple Labs and the US Securities and Exchange Commission (SEC) has been met with skepticism and outright dismissal by legal authorities closely monitoring the case. Despite recent developments mandating Ripple to provide comprehensive financial records related to its institutional sales of XRP, rumors of an impending settlement have been quashed by legal experts.

Experts Say There is No Settlement Between Ripple Labs and SEC

A recent court ruling, issued by Judge Sarah Netburn, has granted Ripple an extension until February 20th to fulfill the financial disclosure requirements, introducing an eight-day delay in the legal proceedings. While this extension has fueled speculation about a potential settlement, the deadline for rebuttals in the remedies stage, set for April 24th, indicates a prolonged legal process ahead, casting uncertainty over the near future.

Legal voices within the XRP community have emphasized the confidential nature of settlement negotiations, debunking the rumors. Bill Morgan, a seasoned attorney, highlighted the confidentiality of such negotiations, emphasizing that settlement talks remain undisclosed until an agreement is reached. Similarly, Jesse Hynes, another legal expert, dismissed the rumors as baseless, noting that leaks regarding settlement talks are often strategic moves for leverage rather than factual indicators.

Since the inception of the lawsuit in December 2020, Ripple has faced legal challenges related to the SEC’s scrutiny of its institutional sales of XRP. Despite legal turbulence impacting XRP’s market performance, Ripple has secured victories in court, including the determination that XRP is not a security and the dismissal of the SEC’s case against Ripple executives Brad Garlinghouse and Chris Larsen. However, the saga continues as the legal battle unfolds.

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