Bill Morgan Debunks XRP NDA Expiry Theory After Ripple vs SEC Settlement

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The end of the Ripple vs SEC legal battle has reignited speculation over the 1,700 non-disclosure agreements (NDAs) reportedly tied to the company. Some in the XRP community believe these NDAs could start expiring now that the case is resolved. 

However, prominent lawyer Bill Morgan isn’t buying it.

‘Nonsense’ to Link NDAs to Ripple vs SEC Lawsuit

Responding to a post suggesting that one of the NDAs could now be revealed, Morgan firmly rejected the idea. He argued it’s illogical to assume that NDAs, which were drafted before the lawsuit began, would be structured to expire only when a lawsuit, which hadn’t even started at the time, was resolved. Calling the theory “nonsense,” Morgan pointed out that this assumption ignores how NDAs are typically written.

Protecting Ripple and Its Partners

According to Morgan, the NDAs aren’t just about shielding Ripple. They’re also designed to protect the institutions, banks, and companies the firm works with. Breaking an NDA could bring serious legal and financial consequences, making it off-limits for public disclosure. While Ripple is now free from SEC restrictions, it still has its hands tied when it comes to publicly discussing many of its deals.

Where the Hype Started

The fresh round of speculation was sparked by an X post suggesting that it was “time to announce” one of the NDAs now that the legal battle is over. Many XRP holders have long imagined that these agreements could hide blockbuster news, anything from high-profile banking partnerships to undisclosed tech developments.

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Setting the Record Straight

X user CryptoSensei stepped in to clarify the facts. Drawing on court documents and expert insights from Yale Law professor Alan Schwartz, they explained that the “1,700 NDAs” aren’t all NDAs in the strict sense. Instead, they fall into four main categories:

Direct XRP transfers in commercial deals.

Trading agreements where partners sold XRP on Ripple’s behalf.

Service payments are made in XRP.

A mixed bag of other contracts, including NDAs, marketing deals, and tech partnerships.

According to the analyst, while NDAs did help keep institutional partnerships under wraps during the SEC case, they’re only part of a broader set of commercial and operational agreements, not the whole story.