The digital currency, Ripple XRP, suffered a major setback after the US Securities and Exchange Commission announced at the end of last December a lawsuit against Ripple, stating that Ripple sold unregistered securities, and that XRP was a security and security and not an encrypted digital currency.

For Ripple and the “SEC” body to enter into a legal battle officially, and a trial and hearing will begin in late February.

What can Ripple do to save XRP?

According to Mr. Stephen Bally, a blockchain and cryptocurrency attorney at Anderson Kill law firm, Ripple’s solution is to resort as soon as possible to a settlement with the SEC instead of choosing and betting on a long courtroom battle.

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stated Stephen Bally says:

The notion that San Francisco-based Ripple can succeed in court and succeed in its quest for XRP to be considered a digital currency and by court is bogus.

For XRP to survive, Ripple needs to strike a deal with the Securities and Exchange Commission and not continue the misguided illusion of its eventual success in the United States Supreme Court.

Bali also referred to the second Tetragon lawsuit against Ripple filed in Delaware Chancery Court this week.

The “Tetragon” group filed a complaint against Ripple, demanding that it return the money it provided in the C funding round.

Another painful blow to Ripple… A lawsuit filed against Ripple from one of its major investors

According to Bali, the second lawsuit is another type of highly unwanted news for Ripple, and Ripple’s response reveals that it was aware that XRP could be a security currency, adding:

The problem that Ripple will face is the amount of information and documents its opponents have.

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