Ripple Lawsuit Settlement: BitBoy & Former SEC Lawyer Share Key Insights

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XRP Price Rallies After Gary Gensler’s Exit – Is Ripple vs SEC Lawsuit Reaching Its End

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The XRP community is filled with excitement over new rumors about a potential “emergency settlement” in the ongoing Ripple lawsuit. These speculations have gained momentum after SEC Chair Gary Gensler announced his resignation, effective January 20, 2025.

BitBoy Addresses the Ripple Settlement Rumors

Crypto influencer Ben Armstrong, better known as BitBoy, recently shared his thoughts on rumors that the SEC might settle its case with Ripple behind closed doors. In a YouTube video, BitBoy acknowledged the speculation but admitted he couldn’t verify the claims, promising to look into them further.

However, the rumors arise from the SEC’s closed-door meetings, which review ongoing cases and injunctions are discussed. Interestingly, the SEC held such a meeting on November 21—the same day Gensler announced his resignation.

The idea of a settlement gained much attention, fueling a surge in XRP’s price by almost 200% making XRP’s price reach $1.6 in the past few days.

Former SEC Lawyer Weighs In

Adding to the discussion, Marc Fagel, a former SEC attorney, shared his perspective on the conversation. He explained that while many previous reports about Ripple settlement talks turned out to be false, the latest rumors seem more credible.

If the appeal is dismissed (which would be historically unusual but possible), it won't happen until the new SEC Chair is appointed & confirmed. Which leaves plenty of time for bogus posts about weekly meanings and all sorts of craziness leading up to the January 15 brief filing.

— Marc Fagel (@Marc_Fagel) November 21, 2024

Further Fagel notes that any resolution would take time, as a new SEC Chair would need to be appointed and confirmed before major decisions could be made.

However, he noted that clarity on this matter might not come until important deadlines, like the January 15 brief filing, are reached.

XRP To Hit $2 Soon

Market experts are starting to believe that XRP could hit an all-time high (ATH) sooner than expected. XRP has been holding strong around $1.55, with an 18% surge today, bringing its market cap to $88 billion.

Over the past two weeks, the cryptocurrency has seen a huge 170% gain. With $2 as the next target, many are now eyeing the potential for a new all-time high.

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