The cryptocurrency community is buzzing with hope for the future of XRP as the sun sets on the protracted legal conflict between Ripple and the U.S. Securities and Trade Fee (SEC). Crypto lawyer and XRP enthusiast Bill Morgan believes that recent developments lead to a potential good outcome for Ripple.
Suit Against Binance Offers Hope For Ripple
With the SEC’s most recent action filed against Binance, the business operating Binance.US, and its founder and CEO Changpeng “CZ” Zhao, there is now hope that the Ripple lawsuit may be resolved more quickly. The legal action against Binance, which accuses the company of breaking federal securities laws, has riled up the cryptocurrency community.
The SEC v. Binance lawsuit has been extensively covered by cryptomuskn. Find out right away: SEC Lawsuit Against Binance: $700M Withdrawals and a Fall in Metaverse Tokens! – cryptomuskn Information on Fintech
XRP Group Responds
Many members of the XRP community saw the move as part of a larger attack on the cryptocurrency industry in retaliation to the Binance litigation. In response to the SEC’s combative approach, Morgan echoes these sentiments and calls for unity among the industry. According to Ashley Prosper of the XRP group, the SEC’s focus on Binance could speed the conclusion of the Ripple action.
CEO of Ripple’s upbeat outlook
CEO of Ripple Brad Garlinghouse anticipates that the dispute will be resolved quickly, giving a timeframe of “weeks, not months.” Similar optimism can be seen in Ripple’s most recent quarterly report, which projects a call on the abstract judgement for 2023. However, the court’s decision is final.