Ripple has been locked in a legal battle with the Securities and Exchange Commission (SEC) since December 2020, when the SEC accused Ripple Labs of creating and selling unregistered securities.
Despite being sued by the SEC, Ripple Labs is not treating the matter lightly and has rejected any settlement with the SEC, implying that no out-of-court settlement is in the works.
Ripple CEO Brad Garlinghouse indicated in an interview with Fox Business on September 24 that the company would be willing to settle with the Securities and Exchange Commission if there is “total confidence” about XRP:
To the extent we can find a constructive path forward with the SEC, we, of course, want to find that. There is no scenario though when we gonna to settle unless there is absolute certainty about what is XRP on the go-forward basis.
Garlinghouse emphasised that the XRP Ledger is a decentralised open-source technology that existed before the company was founded, equating the native coin to oil and gold.
Despite its best efforts, the SEC has failed to prevent the court from comparing XRP and ETH, according to a new research by attorney Jeremy Hogan. The plaintiff now appears to be obliged to contend that the only difference between XRP and Ether is because the Ripple ledger isn’t complete.
Meanwhile, John Deaton, an attorney for XRP holders, has named names in the narrative of “an overreaching authority unfairly picking winners and losers in the blockchain company area.”
XRP Price below $1
Below the $1.00 barrier level, the Ripple price prediction is currently under selling pressure.
The price of Ripple has grown dramatically in recent days, with prices fluctuating between $1.45 and $1.50. However, after hitting a high of $1.40 on Tuesday, prices dropped quickly.
The Ripple price prediction is presently trading at $0.93, and any attempt to push it below the channel’s lower border might lead to further price declines and a jump below the $0.80 support level.