Featured image from YouTube, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
A rumor claiming a potential settlement between Ripple and the US Securities and Exchange Commission (SEC) scheduled for a closed meeting on July 18 has been debunked by former SEC regional director and pro-XRP lawyer, Marc Fagel. According to Fagel, the likelihood of a settlement being discussed in this particular meeting is highly improbable, despite the community’s hopeful speculations. Ripple-SEC Settlement Is Highly Unlikely The rumor was initially fueled by Brett Hill, an ambassador for the cryptocurrency exchange Bitrue, who suggested via the social media platform X that the SEC’s private meeting might finalize the long-standing legal battle between Ripple and the regulator. Hill cited “reliable sources” and pointed to a screenshot of the SEC’s official meeting announcement, which, however, did not explicitly mention the Ripple case. Related Reading: Expert Foresees XRP Soaring To $250: Technical Analysis Explained Reacting to the speculation, Marc Fagel humorously commented on X, saying, \u201cI mean, they’ve had about 150 of these nearly-weekly meetings since the case was filed, and Crypto Twitter was convinced a settlement was being discussed at every one of those meetings, but this is DEFINITELY the one! [Narrator: It’s not the one.]\u201d According to the SEC’s announcement, the meeting’s agenda will cover topics such as the institution and settlement of injunctive actions, administrative proceedings, resolution of litigation claims, and other matters related to enforcement proceedings. Although the agenda does include topics that could theoretically encompass a settlement with Ripple, there is no direct evidence to suggest that this is planned for discussion. In contrast, another pro-XRP lawyer, Fred Rispoli, has outlined a potential future date, July 31, for a possible resolution, albeit noting that a “pre-judgment settlement is unlikely.” Rispoli’s prediction includes a possible penalty not exceeding $25 million for Ripple, without any disgorgement. Related Reading: XRP & Litecoin See Social Media FOMO: Bad Sign For Prices? The SEC has been engaged in a legal tussle with Ripple since December 2020. Following the summary one year and 4 days ago, both parties are currently waiting for a remedy and penalty ruling by Judge Analisa Torres. The SEC is pursuing a penalty of $102.6 million against Ripple, markedly lower than the almost $2 billion initially demanded. Ripple has suggested capping the penalty at $10 million, citing the Terraform Labs case as a precedent. Nonetheless, the SEC has dismissed this proposal in its reply brief, stating that such a minimal amount would not align with the objectives of civil penalty statutes. XRP Price Gains Momentum Over the past 12 days, the price of XRP has surged from $0.38 to over $0.61, marking a 61% increase. Although Bitcoin spearheaded the broader recovery in the cryptocurrency market, XRP has emerged as one of the top performers during this period. While no specific news can be directly linked to this price movement, the favorable technical chart setup for XRP, along with potential influence from settlement rumors, have likely contributed to the significant uptick. At press time, XRP traded at $0.61551. Featured image from YouTube, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":630223,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[89561],"tags":[3680,17209,92764,3799,4320,4531,85515,83637,13172],"class_list":["post-630222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp-news","tag-ripple","tag-ripple-news","tag-ripple-sec-settlement","tag-sec","tag-us-securities-and-exchange-commission","tag-xrp","tag-xrp-lawsuit","tag-xrp-news","tag-xrp-price"],"acf":[],"yoast_head":"\n
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Through his extensive work with uniquehot.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/uniquehot.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Pro-XRP Lawyer Debunks Ripple-SEC Settlement Rumor For Tomorrow","url":"http:\/\/uniquehot.com\/xrp-news\/pro-xrp-lawyer-ripple-sec-settlement-rumor\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/xrp-news\/pro-xrp-lawyer-ripple-sec-settlement-rumor\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-17-100059.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-17-100059.png?fit=1542%2C937"},"articleSection":"XRP News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","ripple news","ripple sec settlement","sec","us securities and exchange commission","xrp","xrp lawsuit","xrp news","xrp price"],"dateCreated":"2024-07-17T17:00:05Z","datePublished":"2024-07-17T17:00:05Z","dateModified":"2024-07-17T17:00:05Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Pro-XRP Lawyer Debunks Ripple-SEC Settlement Rumor For Tomorrow\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/xrp-news\\\/pro-xrp-lawyer-ripple-sec-settlement-rumor\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/xrp-news\\\/pro-xrp-lawyer-ripple-sec-settlement-rumor\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Screenshot-2024-07-17-100059.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Screenshot-2024-07-17-100059.png?fit=1542%2C937\"},\"articleSection\":\"XRP News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"ripple news\",\"ripple sec settlement\",\"sec\",\"us securities and exchange commission\",\"xrp\",\"xrp lawsuit\",\"xrp news\",\"xrp price\"],\"dateCreated\":\"2024-07-17T17:00:05Z\",\"datePublished\":\"2024-07-17T17:00:05Z\",\"dateModified\":\"2024-07-17T17:00:05Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-17-100059.png?fit=1542%2C937","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/630222"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=630222"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/630222\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/630223"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=630222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=630222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=630222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"XRP](\"https:\/\/i0.wp.com\/bitcoinist.com\/wp-content\/uploads\/2024\/07\/XRPUSD_2024-07-17_10-49-18.png?resize=1024%2C473&ssl=1\")