Ripple Does Not Own or Control the XRP Ledger as SEC Settlement Rumors Circulate

The legal battle between Ripple Labs and the Securities and Exchange Commission (SEC) continues, with new developments that could have major implications for the future of Ripple and its associated cryptocurrency, XRP.

In a recent ruling, Judge Torres denied the SEC’s bid earlier this month to immediately appeal her previous decision that Ripple does not own or control the XRP Ledger. This reinforces the notion that XRP is decentralized and not a security.

Top XRP analyst JackTheRippler suggested settlement talks may be underway between Ripple and the SEC.

If Ripple reaches a settlement agreement with the SEC, it would likely mean the end of regulatory uncertainty for XRP. No longer deemed a security, XRP could potentially see substantial increases in adoption and trading volume on US exchanges. Ripple would also avoid an expensive and prolonged legal fight. This would be a hugely positive long-term development for Ripple and XRP holders.

However, the legal drama is far from over. Judge Netburn set an April 2024 trial date to resolve other outstanding issues. Meanwhile, the SEC maintains XRP is an unregistered security and illegal to trade in the US. The final outcome remains uncertain, but Ripple and the broader XRP community are optimistic the crypto asset will eventually shake its security status.

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

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