Jimmy Vallee, founder of Valhil Capital, is pushing for a massive $500 billion settlement for XRP holders. The move comes in response to a 2020 lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple, alleging that XRP sales were unregistered securities offerings.
The lawsuit sparked a massive sell-off, sending XRP’s price down nearly 75% and many exchanges removing the token from their platforms, further damaging its market position. Vallee, along with his firm, believes that without the SEC’s intervention, XRP could have followed a similar price path as Bitcoin or Ethereum. He argues that XRP’s price could have easily surpassed its previous all-time high of $3.84, potentially reaching $10 today.
Jimmy Vallee’s $500 Billion Compensation Effort
To help address these alleged injustices, Vallee founded the Crypto Justice Coalition, which aims to secure financial compensation for affected XRP holders. Vallee claims that the more than 76,000 XRP holders represented by attorney John Deaton in the Ripple case would be eligible for a portion of the proposed $500 billion in compensation.
Following the SEC’s decision to dismiss its lawsuit against Ripple, the call for restitution has gained new momentum. Vallee has stated that he does not intend to pursue restitution through the federal court system, citing concerns about potential judicial bias. Instead, he is exploring alternative legal routes and possible negotiations with regulators to resolve the matter.
The Future of XRP and Market Recovery Prospects
Vallee’s proposal for a $500 billion settlement stems from the significant market opportunities lost as a result of the SEC’s actions. XRP’s market cap is currently around $140 billion, but if it were to trade at Vallee’s predicted $8 to $10 per token, its market cap would exceed $500 billion.
