There have been recent claims of “a settlement” between Ripple and the SEC in the ongoing legal dispute from crypto influencers. Australian-based attorney Bill Morgan addressed the SEC v. Ripple lawsuit settlement rumor in a tweet today.
Notably, the creator of the well-known financial blog WallStreetBulls recently claimed that he learned that the SEC and Ripple settled today via an unnamed source. The user declares that on June 14, 2023, the settlement’s complete terms will be made public.
WallStreetBulls also claimed that the settlement’s specifics are very private. But he committed to sharing further information about the settlement as soon as the source gave the go-ahead.
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Attorney Bill Morgan’s Reaction
Members of the XRP community who have been waiting patiently for the SEC v. Ripple lawsuit to be resolved have responded to the most recent rumors of a settlement. Also, Attorney Morgan commented on the development and questioned the validity of WallStreetBulls’ source. If the report were accurate, he claimed, it would have considerably affected the price of XRP over the previous 24 hours.
Notably, XRP has experienced marginal growth over the past week. The cryptocurrency asset has increased by over 10% during the last seven days, breaking beyond the $0.50 barrier. XRP is now being traded at approximately $0.504.
Ripple Will Only Settle if SEC Provides Regulatory Clarity for XRP
Due to XRP’s most recent solo run, rumors have circulated that the rising spike is a reaction to information on the case. The latest settlement rumor reinforces these conjectures. It’s important to note that June 14 is the day following the release of Hinman’s emails.
Hinman’s emails concern the drafts of his 2018 cryptocurrency speech, which was given in context as a former SEC officer. Remember that the court rejected the SEC’s request to keep the emails from Hinman sealed because they are judicial records.
Most XRP supporters believe the SEC would prefer a settlement with Ripple to publish Hinman’s emails. John Deaton, an attorney who supports XRP, has vigorously refuted these settlement reports. In his words, the SEC knows Hinman’s emails will eventually become public. Deaton emphasized that even though the SEC and Ripple settled not to reveal Hinman’s emails, other litigants like Coinbase may still ask to see the documents.
The possibility of a Ripple lawsuit settlement has been the subject of numerous rumors. Deaton and Eleanor Terrett, two well-known attorneys and journalists, have refuted these assertions. Terrett refuted a settlement rumor last year that had been supported by Cardano founder Charles Hoskinson. Attorney Deaton also denied a different settlement rumor from Blockchain Daily, as was previously reported earlier this month.
Notably, Ripple has stated that it is only willing to settle with the SEC if the agency clarifies the regulatory framework for XRP.
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