Ripple to Partner Bank of America using XRP after Lawsuit Win

Ripple CEO Brad Garlinghouse is confident that the company will reach a positive outcome in its lawsuit with the Securities and Exchange Commission (SEC).

Garlinghouse told attendees at the Ripple Swell 2022 conference in London that he is “even more confident today than he was back then” about the outcome of the case. He said that Ripple is “ready to settle with the SEC as long as we can get clarity on XRP.”

The SEC sued Ripple in December 2020, alleging that the company and its executives raised over $1.3 billion through the sale of XRP tokens in an unregistered securities offering. Ripple has denied the allegations, arguing that XRP is not a security but rather a currency.

The case is still ongoing, but Garlinghouse’s comments suggest that Ripple is hopeful of reaching a settlement. Bank of America, another defendant in the case, is also reportedly willing to settle as long as it gains clarity on XRP.

A settlement would be a major victory for Ripple. It would allow the company to move past the lawsuit and focus on its business. It would also provide much-needed clarity for the cryptocurrency industry, which has been struggling with regulatory uncertainty.

The XRP price has surged by a double-digit percentage in recent days, amid rumors of a settlement in the case. It is the highest gainer among the top 20 crypto assets by market cap.

If a settlement is reached, it could send the XRP price even higher. Investors will be eager to get clarity on the regulatory status of XRP, and a settlement with the SEC would be a major step in that direction.

The case is also being closely watched by other cryptocurrency companies. A favorable outcome for Ripple could set a precedent for other companies that are facing regulatory scrutiny.

It remains to be seen whether Ripple and the SEC will be able to reach a settlement. However, Garlinghouse’s comments suggest that Ripple is confident of a positive outcome.