The XRP community is excited about new rumors regarding a potential “emergency settlement” in the Ripple lawsuit underway. This speculation intensified after SEC Chairman Gary Gensler announced his resignation, effective January 20, 2025.
BitBoy responds to Ripple settlement rumors
Crypto influencer Ben Armstrong, better known as BitBoy, recently shared his thoughts on rumors that the SEC may settle its case with Ripple behind closed doors. In a YouTube video, BitBoy admitted speculation, but admitted he could not verify the claims, promising to look into them further.
However, the rumors originate from the SEC’s closed-door meetings, where pending cases are reviewed and injunctions are discussed. Interestingly, the SEC held such a meeting on November 21, the same day Gensler announced his resignation.
The idea of a settlement attracted a lot of attention, fueling a nearly 200% rise in the price of XRP, which saw the price of XRP reach $1.6 over the past few days.
Former SEC lawyer weighs in
To fuel the discussion, former SEC attorney Marc Fagel shared his perspective on the conversation. He explained that while many previous reports about Ripple’s settlement negotiations turned out to be false, the latest rumors seem more credible.
Fagel further notes that any resolution would take time, as a new SEC chairman would have to be named and confirmed before any major decisions could be made.
However, he noted that clarity on this issue may not be achieved until important deadlines, such as the brief Jan. 15 filing, are reached.
XRP will soon reach $2
Market experts are starting to believe that XRP could hit an all-time high (ATH) sooner than expected. XRP has been remains around $1.55with an 18% increase today, bringing its market capitalization to $88 billion.
Over the past two weeks, the cryptocurrency has seen a whopping 170% gain. With $2 as the next target, many are now eyeing the possibility of hitting a new all-time high.