Former Securities and Exchange Commission (SEC) attorney Marc Fagel has advised against being overly optimistic about the possibility of reaching an agreement in the continuing legal dispute between the SEC and Ripple Labs.
The US SEC just rescheduled a private meeting, igniting renewed optimism among the XRP community for a resolution. Nevertheless, Fagel pointed out the absence of definitive proof to substantiate this perspective, noting that it is improbable to resolve an intricate issue like Ripple’s at this point, particularly in a private meeting.
The XRP community has actively monitored the SEC’s legal action against Ripple, which commenced in 2020 and progressed to the trial stage in April 2024. The SEC is anticipated to deliberate on topics such as “Establishment and resolution of administrative proceedings” and “Settlement of legal claims.”
Previously, market experts and observers have proposed the possibility of a settlement, with Ripple CEO Brad Garlinghouse and Ripple CLO Stuart Alderoty expressing confidence in a quick conclusion.
Although there are positive indications, Fagel’s remarks raise uncertainty about the possibility of reaching an agreement resulting from the SEC’s private meeting. This emphasizes the importance of the upcoming weeks in deciding the outcome in the phase of selecting the appropriate actions to be taken.
