Former SEC official says XRP lawsuit resolution may come within days

Marc Fagel shared his opinion on the current position of the Ripple vs SEC lawsuit & claimed that soon resolution will come.

Since Dec 2020, Ripple (XRP) and the United States Securities Exchange Commission (SEC) are in a legal conflict against each other. Through the lawsuit, the SEC agency alleged that the XRP coin was an unregistered security. So far to date, the SEC lawyers failed to prove the nature of XRP coin as a security crypto token. 

On 15 June, Marc Fagel, the former Regional Director of the SEC’s San Francisco Regional Office, jumped into an XRP lawsuit discussion on Twitter.

An XRP proponent said that SEC probably withdrawing its lawsuits before summary judgement potentially undermines the presiding judge. 

Marc Fagel said that such speculations are waste & further said that he believes that the resolution of the XRP lawsuit will come in within a few days.

Furthermore, the former SEC director said that case may extend if there will be any kind of hidden agenda or any other complexities.

Hinman documents

In 2018, the former SEC official William Hinman passed statements about the nature of Ethereum (ETH) & said that ETH was a non-security crypto token & said that the agency doesn’t need to regulate Ethereum. 

The documents related to Hinman’s statement & emails are now in court and Ripple’s defense lawyers are optimistic to win the case with the help of Hinman’s documents.

Few legal experts believe that Hinman’s document will not help Ripple and also alleged that Hinman’s document will only bring more delays in the case.

XRP coin price action 

The current trade price of the XRP coin is $0.47 & this trade price is 2.37% high than the last 24 hours’ trade price.

Read also: SEC official says crypto industry “built around non-compliance”