However, he still says that the case may be drawn out for longer.
XRP/USD one month price chart| source
The CEO of Ripple Labs, Brad Garlinghouse, thinks their legal conflict with the United States Securities and Exchange Commission (SEC) could be resolved in three to four months from now. However, Garlinghouse states there’s still the possibility of it dragging on for longer.
For context, this is about Ripple’s ongoing legal defense against the SEC. The SEC had sued Ripple Lab and multiple executives associated back in 2020 for an allegedly unregulated securities sale of XRP amounting to around $1.3 billion.
The case has been going on for quite some time already, and as Garlinghouse put it, the event is significant not only for the crypto market in the US, but the global markets for the same at large.
On October 11, Tuesday, Garlinghouse spoke to the panelists at the DC Fintech Week conference about how the case is expected to be closed in the upcoming three to four months, and he added that it will be completely briefed and presented to the judge by the middle of November.
As Garlinghouse said, “Federal judges work at their own pace, …Optimistically, we’re talking about three to four months. Pessimistically, it could be longer than that.”
He further said that if XRP is not labeled a security after all, Ripple Labs might consider a settlement with the SEC.
Meanwhile, XRP has witnessed a positive few weeks as traders are speculating about a successful triumph for Ripple in this case by the end of 2022.