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Bill Morgan, a renowned lawyer and expert in the crypto space, has made a bold prediction regarding the ongoing Ripple-SEC lawsuit. In a recent social media post, Morgan suggested that it is highly likely that the appeal will be dismissed before August 15.
As per the reports, Ripple had previously agreed to drop its appeal and entered into a conditional settlement agreement with the SEC. However, certain conditions for this settlement were not met, which has kept the appeals active in the court. With the looming deadline of August 15, Morgan believes that the parties will resolve their differences and dismiss the appeals.
The ripple-SEC case appears to be nearing its conclusion, and as such, adoption rates are rising. Notably, several companies have publicly disclosed their holdings of XRP, indicating a shift in confidence towards the cryptocurrency. Flora Growth Corp and Hyperscale Data Inc., for instance, recently filed SEC documents showing they hold XRP on their balance sheets.
Moreover, Hyperscale’s subsidiary, Ault Capital Group, announced plans to invest $10 million in XRP, with the intention of using it for cross-border settlements. Similarly, vertical farming company Nature’s Miracle has revealed a commitment to maintain its long-term support for XRP.
As the Ripple-SEC case approaches a likely resolution, there are growing speculations about a potential settlement between the parties involved. According to some analysts, the probability of a settlement is estimated to range from 70% to 90%. If this were to happen, it would involve a reduced penalty of $50 million and no injunctive restrictions on Ripple’s activities.
It is worth noting that Morgan remains optimistic about the dismissal of the appeals and does not foresee any possibility of an extension being requested. With the increasing interest in XRP from corporations, both parties may be eager to bring the lawsuit to a close as quickly as possible.
Source: coincentral.com
