The ongoing legal battle between Ripple and the SEC, which has been a focal point for the crypto community, saw significant progress last year in favor of Ripple. Multiple rulings confirmed that XRP is not a security, and the SEC’s request for a temporary appeal was denied, marking a series of victories for Ripple.
The case, which began three years ago, gained momentum last year, with decisions not only affecting Ripple but also its executives. Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen had all charges against them dismissed by the court.
While the crypto world awaits a definitive outcome, the atmosphere has quieted down since the start of 2024. The heated debates of the previous year have subsided, with less discussion currently taking place, especially on social media.
Legal expert and participant in the Ripple case, Fred Rispoli, expressed surprise at the lack of any SEC investigative motions filed, especially considering the contentious nature of the case. He anticipated a filing at least a week before the final submission deadline, suggesting two possible outcomes: either the SEC obtains the findings it seeks and the parties reach a settlement, or the compensation case continues until a likely decision in early summer.
With the next critical date in the Ripple case being February 12, 2024, when the investigation into potential solutions is set to conclude, Rispoli emphasized the importance of the legal battle and shared his astonishment at the absence of filed investigative motions by the SEC. He expects the agency to file a petition before the deadline, which could lead to a settlement or extend the case until a decision is reached by the end of April 2024.