Ripple CLO’s Tweet Hints at Imminent Settlement with SEC

November 25, 2024 William Ross Cryptocurrency News 0

"Gary Gensler's Retirement Fuels Ripple Settlement Hopes"

Speculations of a Ripple settlement with the US Securities and Exchange Commission (SEC) have gained momentum following a victory tweet from Ripple’s Chief Legal Officer, Stuart Alderoty.

In a November 23 update, Alderoty hinted that the years-long legal battle is nearing its end. He tweeted, “Victory has a thousand fathers, but make no mistake. The courage of Brad and Chris, and the resilience and expertise of Ripple Team Legal paved the way”.

Impact of Gensler’s Retirement Announcement

Rumors have been circulating within the XRP community since SEC Chair Gary Gensler announced his retirement plans on November 21.

The speculations have attracted notable crypto enthusiasts like Ben Armstrong, aka BitBoy, who shared his thoughts on the latest twist. Armstrong’s comments have further fueled the anticipation of a potential settlement.

Community Reactions and Market Impact

The settlement rumors gained more credence after Alderoty’s tweet, which many in the XRP community saw as a confirmation of the widespread rumors.

See Also:  XRP Poised to Dethrone BTC, ETH, ADA as the Leading Cryptocurrency for Payments

TechCrunch founder Michael Arrington retweeted Alderoty’s post, noting that Ripple provided a blueprint to defeat Gensler’s regulatory approach. Arrington’s tweet added to the excitement, with many XRP enthusiasts expressing optimism about the case’s resolution.

XRP Market Performance

Despite the growing speculations of a likely Ripple settlement with the SEC, XRP has continued to consolidate below its multi-year high of $1.62, attained over the weekend. At the time of writing, XRP trades at $1.46, up less than 1% in the past 24 hours.

 

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William Ross
About William Ross 292 Articles
I am a cryptocurrency enthusiast and writer with over five years of experience in the industry. I have been following the development and innovation of Bitcoin and Ethereum since their inception, and I enjoy sharing my insights and analysis with readers. I have written for various reputable platforms, such as CoinDesk, Cointelegraph, and Decrypt, covering topics such as market trends, regulation, security, and adoption. I believe that cryptocurrency is the future of finance and technology, and I am passionate about educating and informing people about its benefits and challenges.

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