XRP News: Ex-Ripple Exec Predicts SEC Will Settle or Dismiss Ripple Lawsuit Within the Week

The post XRP News: Ex-Ripple Exec Predicts SEC Will Settle or Dismiss Ripple Lawsuit Within the Week appeared first on Coinpedia Fintech News

Former Ripple director Sean McBride recently weighed in on the ongoing Ripple-SEC case, suggesting that a resolution could come soon. When asked if he thought the SEC would settle with Ripple soon, McBride responded on social media, stating that the case should either be dismissed or settled within the week. He explained that while there are nuances to both options, he believes a settlement is more likely than a dismissal. 

McBride shared his opinion that Ripple, as well as its executives Brad Garlinghouse and Chris Larsen, deserve compensation, and that a settlement would provide a more detailed resolution than a simple dismissal.

The former director went on to say that Ripple and its executives have “flipped the script” on the SEC, meaning they’ve turned the situation in their favor. He also speculated that if the case were dismissed, Ripple could countersue the SEC for damages. However, if the case is settled, he believes the details would likely be sorted out through private negotiations or “back channels,” possibly involving promises from the new administration.

Legal Experts Weigh In

Marc Fagel, a former SEC lawyer, reacted to McBride’s comments, explaining that a countersuit would likely not succeed, especially since the district court had already ruled that Ripple violated the law. He also pointed out that SEC settlements are always made public, so any “back-channel” resolution would be unlikely. Fagel concluded by saying that the case is not expected to be resolved within the week.

Attorney Bill Morgan also opened up about a settlement and wrote, “A settlement would have to deal with Ripple’s cross-appeal. The important point is that Judge Torres’ finding that XRP is not a security is not under challenge no matter what happens.”