The on-going court drama between Ripple Labs and the American Securities and Exchange Commission (SEC) seems to be nearing resolution. The litigation, which took years, will finally come to a conclusion and have major effects on Ripple as well as the entire cryptocurrency ecosystem.

Ripple executives have confirmed that the SEC has agreed to return a large portion of the $125 million fine Ripple was initially required to pay last year. Specifically, the SEC is set to return $75 million of that amount, leaving Ripple with just $50 million to settle the case. While this development is promising, there has been no official confirmation from the SEC at this point, leaving many wondering about the final outcome.

Adding to the drama, the SEC has a closed-door meeting planned for Thursday, April 10. This meeting will likely be instrumental in determining the next steps of the legal process. Ripple’s response deadline to the appeal is just around the corner, on April 16. If the SEC intends to withdraw its appeal over Ripple’s XRP sales, this meeting would be the time to do so. Otherwise, the lawsuit may continue dragging on in court, keeping any potential resolution in limbo.

Legal analysts who have been following the case, such as lawyer Fred Rispoli, opine that the case is likely to be settled soon. Rispoli has indicated there’s a 90% likelihood the case will settle or the SEC will abandon its appeal prior to the April 16 deadline. He also added that, behind the scenes, the two sides may have already come to an informal agreement, although it hasn’t been made public. This behind-the-scenes aspect of the negotiations is standard procedure for the SEC, who tend to work on sensitive topics in private before going public.

The case in question is based on the categorization of Ripple’s sales of XRP. The SEC has contended that XRP is a security, whereas a Ripple has contended that it is not. A win for Ripple would be a landmark victory for the company and the crypto industry at large, if it were to be ruled that XRP sales on exchanges do not constitute illegal securities transactions. If the SEC were to officially drop its appeal, it would be a significant step toward bringing the legal battle to a close, providing clarity for Ripple’s operations and potentially influencing the broader regulatory landscape for digital assets.

As the April 16 deadline looms, everyone is now looking to the SEC’s April 10 meeting. The decision of this meeting will decide the fate of the Ripple case and could have significant implications for the future of cryptocurrency regulations. For now, the world of crypto is in suspense, awaiting a complete resolution to this very high-stakes legal thriller.

If the SEC does move with such decisiveness, we might witness the legal fight drawing to an official end in the coming days, and this would be a watershed moment in the continuing drama of crypto regulation. At present, the industry breathes down the line, holding onto hope for resolution and an answer that may determine the course of future digital asset regulation in America.