The alt coin sits in a photo illustration in London, England.
Brad Garlinghouse, the CEO of Ripple, told CNBC on Monday that the company is making great strides in its legal fight with the SEC.
Garlinghouse said he expects the case to be concluded next year.
He told Dan Murphy that they were seeing good progress despite the slow judicial process.
The judge is asking good questions. I think the judge understands that this is not just about Ripple.
Garlinghouse was hopeful that there would be some kind of resolution next year.
The prices of cryptocurrencies such as ether and bitcoin skyrocketed to record highs in late 2017, and the buzz surrounding the San Francisco-based company, Ripple, generated a lot of interest.
The rally helped the token, XRP, hit an all-time high above $3. It is riding the latest wave of cryptocurrencies with a 370% gain year-to-date.
Banks and other financial services firms can send money across borders faster and at a lower cost with the help of the technology from Ripple. On-Demand Liquidity is a product the company markets that uses the digital currency, XRP.
The company and its executives sold over a billion dollars worth of XRP in an unlicensed securities offering, according to the SEC. The classification of XRP as a security would bring it under more scrutiny.
It comes as regulators around the world are taking a closer look at the market, which has boomed in the last year.
Garlinghouse said that the United Arab Emirates, Japan, Singapore and Switzerland were examples of countries showing leadership when it comes to regulating the industry.
The direction of travel is positive.
Brady Dougan, the former CEO of Credit Suisse, said that regulation is a key area in the future of the industry.
Dougan told CNBC that the market is early in its development. It is a healthy market and will continue to develop in a positive way.
The company was valued at $10 billion and has investors such as the likes of GV, and Japan's SBI.
