Speculations of a Ripple settlement with the US Securities and Exchange Commission (SEC) have gained momentum following a victory tweet from CLO Stuart Alderoty.
Rumors have made the rounds within the XRP community since SEC chair Gary Gensler announced retirement plans on November 21. The speculations have attracted notable crypto enthusiasts like Ben Armstrong, aka BitBoy, who threw in his thoughts on the latest twist.
Meanwhile, the settlement rumors may have gained more credence after a thought-provoking 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.
Victory Bells in Order?
Alderoty’s tweet made claims of victory, with the attorney suggesting “victory has a thousand fathers.” He further commended the efforts of Ripple CEO Brad Garlinghouse, chairman Chris Larsen, and the entire legal team, who stood their ground against the SEC and Gensler.
Furthermore, Alderoty insisted that Ripple has provided the blueprint for defeating Gensler’s regulatory tyranny, and the firm’s resilience ensured that the crypto industry “survived.” Lastly, the CLO applauded XRP enthusiasts, who have supported Ripple’s endeavors throughout the years.
Meanwhile, the tweet sparked speculation among the XRP community, which saw it as a confirmation of widespread rumors of an imminent Ripple settlement with the SEC. Joy further erupted among enthusiasts following a tweet from TechCrunch founder Michael Arrington.
The Arrington XRP Capital founder retweeted Alderoty’s post, noting that the statement suggesting Ripple provided a blueprint to defeat Gensler was in order. He then got the XRP community buzzing in another tweet, stating that today (Monday) is the day.
XRP Continues to Consolidate
Despite 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. Notably, a similar development—Gensler’s imminent retirement—spurred its price uptick to the price mark.
At the time of writing, XRP trades at $1.46, up less than 1% in the past 24 hours. Meanwhile, community sentiments remain largely bullish, with CoinMarketCap showing 87% of enthusiasts expect more upsides for the sixth-largest cryptocurrency by market cap
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