24/7 Cryptocurrency News

XRP Attorney Deems Ripple Vs SEC Settlement ‘Improbable’, Here’s The Reason

XRP lawyer Bill Morgan believes that a settlement in the ongoing Ripple vs SEC legal feud is "improbable" at the moment.
Published by
XRP Attorney Deems Ripple Vs SEC Settlement ‘Improbable’, Here’s The Reason

Highlights

  • After the Discovery phase of the Ripple vs SEC lawsuit came to a close, speculations regarding a settlement emerged.
  • However, lawyer Bill Morgan believes that a settlement is improbable currently.
  • The attorney cited Kraken's recent motion against the SEC and how it could affect the Ripple case's outcome.

XRP lawyer Bill Morgan has highlighted a significant hurdle in the legal feud between Ripple Labs and the Securities and Exchange Commission (SEC). This comes after Kraken, a popular crypto exchange, filed a motion for dismissal of the SEC lawsuit against them while citing crucial details from the Ripple case.

Advertisement

Bill Morgan Believes Ripple Vs SEC Settlement Is Improbable

Morgan’s assessment revolves around the recent actions of Kraken, which he believes have greatly diminished the likelihood of a settlement in the Ripple vs SEC case. He emphasized Kraken’s strategic utilization of Judge Torres’ ruling on programmatic sales. Morgan believes that this act “shows why the SEC will be strongly motivated to appeal Judge Torres’ decision.”

Hence, the lawyer deemed a settlement “improbable” in the immediate future much to the dismay of Ripple’s XRP supporters. Earlier, Morgan provided insights into Kraken’s legal defense strategy. He underscored the exchange’s emphasis on the lack of a tangible relationship between issuers and buyers, a contention that resonates with Judge Torres’ findings.

Furthermore, Morgan explained Kraken’s position, stating that “securities entail a certain relationship between an issuer and buyer.” The XRP attorney then highlighted that the “SEC shows no relationship between issuers of tokens which the SEC calls ‘crypto asset securities’ such as ALGO, ADA, and MATIC sold on the Kraken exchange and Kraken’s customers.”

Moreover, Kraken’s legal defense draws parallels from the SEC vs Ripple case, particularly concerning the expectation of profits. Meanwhile, Kraken’s motion asserted that the “SEC’s allegations are insufficient to plead a reasonable expectation of profits from the efforts of the issuers.” This argument, grounded in Judge Torres’ rulings, further complicates the SEC’s efforts to seek a settlement.

Also Read: Pro-XRP Lawyer Lauds Kraken’s Ripple Citation In SEC Lawsuit

Advertisement

About Kraken’s Motion Against SEC

In the latest filing, Kraken drew attention to the uncanny similarities with the case involving Ripple’s XRP. The filing stressed the absence of a direct link between issuer and buyer as a key defensive tactic. Through a detailed examination of the SEC’s accusations against Ripple, the cryptocurrency exchange seeks to discredit the idea of an anticipated profit based on the efforts of the issuer.

Notably, Kraken’s analysis mirrors concerns voiced by Morgan regarding the SEC’s alleged mishandling of enforcement actions. The decision of the crypto exchange to directly challenge the SEC is not made in isolation. Kraken argues that the timing of the SEC’s allegations against them, coinciding with their push for restricted SEC oversight of digital assets, raises suspicions.

Also Read: XRP Whale’s 20 Mln Accumulation Ignites Speculations As Price Nears $0.54

Advertisement

Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Experts Turn Bullish on Pudgy Penguins as PENGU Leads Meme Coin Buys on Solana

Crypto experts have begun to make bullish projections for Pudgy Penguins’ native token, PENGU. This…

October 5, 2025
  • 24/7 Cryptocurrency News

ASTER to Launch Phase 2 Airdrop on October 10 as Open Interest Tops $5B in Two Weeks

ASTER has announced that the roadmap for its second airdrop phase is set to begin…

October 5, 2025
  • 24/7 Cryptocurrency News

El Salvador’s Bitcoin Holdings Hit $475M Profit as BTC Becomes World’s 7th Largest Asset

El Salvador is now sitting on $482 million in unrealized gains in its Bitcoin holdings.…

October 5, 2025
  • Bitcoin News

Breaking: Bitcoin Hits New ATH Above $125k as ‘Uptober’ Kicks Off in Full Force

The Bitcoin price has hit a new all-time high, after staging a monstrous rally since…

October 5, 2025
  • Bitcoin News

99.3% of Bitcoin Supply in Profit, Analyst Warns of Short-Term Correction

Bitcoin (BTC) is in profit on almost all of its supply, leading to discussion by…

October 5, 2025
  • 24/7 Cryptocurrency News

Pro-Crypto Mike Selig Emerges As CFTC Chair Frontrunner, Gains Ripple CLO’s Endorsement

Pro-crypto Mike Selig is reportedly the frontrunner to become the next chair of the U.S.…

October 4, 2025