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The legal battle between Ripple and the SEC has been going on for some time now, however, the latest reports coming from a reputable online news platform indicate that the commission may be close to dropping the case. This, in turn, would open up the possibility of Ripple going public via an IPO. The Ripple case has been dragging on for quite some time now, with the U.S. SEC accusing the company of selling unregistered securities. The commission reached this conclusion after it reviewed a number of documents on the matter, as well as a lawsuit that was filed in California by the same company. As a result, the SEC brought an enforcement action against Ripple Labs, XRP II, and the company’s CEO, Bradley Garlinghouse

Ripple (XRP) is one of the few cryptocurrencies which has been able to maintain its stability during the downturn. The digital currency is projected to skyrocket in the coming years, given that it is consistently demonstrating its potential in the banking sector. Now, Ripple (XRP) is all set to IPO, which is a possibility that was first revealed by Sagar Sarbhai, the head of regulatory relations for Asia-Pacific and the Middle East at Ripple. Sarbhai claimed that the current scenario is quite positive and that Ripple (XRP) would look to capitalize on the opportunity and make it big in the market.

According to a report published today on the website Finance Feeds, payment company Ripple could soon go public following the settlement of its case with the US Securities and Exchange Commission (SEC).

In December 2020, Ripple was accused of illegally selling unregistered securities worth $1.3 billion, and the case is still ongoing. Still, the startup seems confident that the two parties will reach an agreement soon.

Ripple IPO ?

According to Japanese financial firm SBI Holdings, which has a stake in Ripple, the company is considering an IPO in the near future. CEO Yoshitaka Kitao, who also sits on Ripple’s board of directors, said during the earnings call that the IPO will recoup SBI Group’s investment.

Ripple will go public after the settlement of the ongoing lawsuit. That’s what the current CEO wants to do. Chris [Larsen] wants to do it. We invest in fintech companies, implement these technologies in our group and spread them in the industry. This is the core strategy of the SBI group, Mr Kitao said.

Ripple CEO Brad Garlinghouse recently confirmed that the company has made very good progress in court so far. He also said that many U.S. federal agencies, such as the Department of Justice and the Treasury Department, have already deemed XRP non-threatening, so there’s no reason to worry.

XRP whales have fun

Meanwhile, XRP’s distribution graph shows that large investors, better known as whales, are expressing confidence in Ripple. Buyer pressure on the world’s fourth-largest cryptocurrency by market capitalization jumped up last week, contributing to the price increase.

The analysis platform Santiment has registered 12 new addresses with over 1,000,000 XRPs joining the network in such a short time. These whales have over $1.6 million in Altcoin.

Distribution of supplyXRP by Santiment

The recent increase in the number of large investors backing XRP coincided with a 74% increase in price. Additional buying pressure could help the cross-border remittance marker recapture its recent high of $1.98 year-to-date.

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Frequently Asked Questions

What is the SEC lawsuit against XRP?

On Tuesday, the SEC filed a complaint in federal court. The regulator claims that Ripple Labs and its former CEO, Bradley Garlinghouse, violated anti-fraud rules by selling XRP, a digital currency, without disclosing its ownership of most of the XRP in circulation. The US Securities and Exchange Commission (SEC) has filed a lawsuit against Ripple Labs Inc, the company behind the XRP cryptocurrency. The lawsuit accuses Ripple of selling unregistered securities, and of not telling investors how it plans to use the money it raised through initial coin offerings (ICOs). The lawsuit has a number of shocking allegations, including: The Ripple network is not open. It is not decentralized. Ripple Labs controls the network. Ripple Labs has stated that it may cancel XRP. Ripple Labs is a for-profit company. Ripple Labs controls the majority of XRP. Ripple Labs has stated that it will not create XRP. R

Did ripple win the lawsuit?

As we all know by now, the United State Securities and Exchange Commission (SEC) has filed a lawsuit against and Ripple Labs in May this year, and since then a lot of things have happened; the lawsuit was amended in June, which led to Ripple Labs changing its business model and selling XRPs to institutional investors, instead of directly to retail investors, according to a report by Pymnts.com. However, the amended lawsuit is still against Ripple Labs. In March of 2018, Ripple was sued by the SEC for allegedly selling unregistered securities. Now, it seems that the case has finally been decided: Ripple Labs and its subsidiary XRP II have been ordered to pay $700,000 in penalties and $13 million in disgorgement and prejudgment interest. Ripple Labs, which is based in San Francisco, did not admit liability as part of the settlement. “Ripple Labs took significant steps to prevent the sale of XRP,” said Ripple CEO Brad Garlinghouse, in a video statement. “We are pleased to put this legal matter behind us.”

Should I invest ripple 2020?

After reaching an all-time high of 3.00$ per XRP, the currency suddenly dropped to 1.70$, raising concerns among investors. Recently, the SEC has charged Ripple with fraud for not registering as a security. I’m not sure if this will have an effect on the price, but I don’t think it’s a good sign. At the same time, the CEO of the company, Brad Garlinghouse, has been quoted saying “While I’m super excited about all the money I’m going to make, I’m really looking forward to seeing XRP listed on Coinbase.” The lawsuit filed against Ripple Labs by the SEC has been a hot topic for a lot of Ripple investors. Personally, I feel that the odds of Ripple being shut down are fairly slim, and if the case is dropped or thrown out, investors will see a huge spike in the value of XRP. I think now is a good time to invest in XRP if you can afford it, but definitely don’t bet the farm on it, or even too much of your portfolio.

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