The explosive statement made by the CEO
The CEO of Ripple, Brad Garlinghouse, is determined to fight the case against SEC, and he firmly believes that the lawsuit is nothing but a vehement attack against the cryptocurrency industry. However, Garlinghouse is not worried as he is certain that the fabulous legal team of Ripple shall lead Ripple Labs to victory against SEC. At present, Ripple possesses 47 billion tokens worth around $64 billion. These tokens, locked at an XRP Escrow account, shall be circulated in the market for trading and investment. While being pitted against the US SEC, Garlinghouse has made the fieriest statement that Ripple is open to the idea of burning out the contents of the Escrow account.
SEC vs. Ripple – Latest updates
It seems that there might be hope for Ripple as the previous month ended with a partial win for Ripple Labs. The sitting judge gave his grant to the motion of temporarily sealing the four documents and ordered the opposing parties to agree on the redactions. Ripple’s legal team succeeded in convincing the judge to redact the two emails. It is evident from the legal proceedings that the defense arguments of Ripple have become more compelling while SEC’s position has weakened considerably over time.
The future of Ripple
Although there has been a recent rally in Ripple’s price, it is currently under pressure due to the SEC lawsuit gnawing at Ripple’s popularity. According to the latest reports, the SEC lawsuit proceedings shall continue under the Chairmanship of Gary Gensler. It is being hoped that the new Chairman shall be lenient and that Ripple Labs will win, thereby bringing about an increase in the price of Ripple.
At present, Ripple has hit the price of $1.3390 that is around 20% more than the lowest price that it hit earlier this week. Cryptocurrency experts believe that Ripple’s price might set off on a bullish upward trend by hitting the $2 mark very soon, and mass adoption in upcoming years can change ripple price prediction 2025. Such a prediction can only come true if the price of Ripple moves ahead of the retracement level of 23.6% at $1.5300.