According to Brad Garlinghouse, the CEO of Ripple (XRP), the end of the infamous lawsuit with the US Securities and Exchange Commission (SEC) is in sight. According to Garlinghouse, a verdict could possibly come within weeks, he said during the recent ReDEFiNe Tomorrow 2023 conference. Garlinghouse’s words give the impression that a breakthrough is imminent.
New developments in the XRP lawsuit
The process has gained momentum in recent weeks due to a number of new developments. For example, Judge Analisa Torres has an attempt by the SEC to seal certain documents turned down. These documents, which are relevant to the lawsuit, will be submitted to the beginning of June be made public.
They relate to former SEC official William Hinman’s 2018 speech in which he stated that ethereum (ETH) is not a security. According to the Ripple camp, these documents could have a major impact on the classification of cryptocurrencies and the ruling in the court case.
These are all reasons why Garlinghouse believes the judge will rule very soon. He is not talking about months here, but only about weeks.
“I am confident that the Court will make a decision this year. In fact, I think within weeks, not months.”
Ripple looking for friendlier places
Meanwhile watch crypto companies, including Ripple, to other countries due to the uncertain climate in the United States. Ripple, for example, has expanded its activities abroad considerably in the past year. This illustrates Ripple’s aim to continue to grow despite the uncertainties in the US, if necessary without involving the US market.
The coming weeks promise to be extremely exciting for Ripple and the crypto community as a whole. As the court ruling approaches, traders and investors will start to prepare for a reaction from the XRP price. It is not yet known which way the price will go, of course, but it is expected that a court ruling will have an impact on the price.