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In the SEC case over XRP, Ripple is seeing 'good progress,' with an outcome expected next year.

• Ripple is making "good progress" in its legal dispute with the Securities and Exchange Commission of the United States, according to CEO Brad Garlinghouse.
• Garlinghouse expects the lawsuit will most likely be resolved next year.
• Ripple and its officials are accused of selling $1.3 billion in XRP cryptocurrency in an unregistered securities offering, according to the SEC.

Ripple's legal battle with the Securities and Exchange Commission is progressing well, according to CEO Brad Garlinghouse, told on Monday.

Garlinghouse believes the issue, which revolves around XRP, the world's seventh-largest cryptocurrency, will be resolved next year.

"Despite a slow-moving judicial process, we're seeing really good progress,” he told.

"Clearly, the judge is asking excellent questions. And I believe the judge recognises that this isn't just about Ripple; it has far-reaching consequences."

Garlinghouse expressed optimism that the project would be completed next year.

Ripple, based in San Francisco, gained a lot of attention during the crypto craze of late 2017 and early 2018, when the prices of bitcoin, ether, and other cryptocurrencies soared to new highs.

The rise benefitted XRP, a coin closely connected with Ripple, which achieved an all-time high above $3. It's since dropped substantially from that level, but it's riding the newest crypto wave with a year-to-date gain of more than 370 percent.

Ripple's technology enables banks and other financial services organisations to transmit money across borders more quickly and for less money. On-Demand Liquidity, a product that uses XRP for cross-border payments, is also available from the company.

The Securities and Exchange Commission is concerned about Ripple's XRP ties, charging that the business and its officials sold $1.3 billion worth of the tokens in an unregistered securities offering. However, Ripple claims that XRP should not be classified as a security, which would subject it to far more regulatory scrutiny.

It comes as regulators around the world take a closer look at cryptocurrency, a market that is still largely unregulated but has exploded in popularity in the last year.

The United Arab Emirates, Japan, Singapore, and Switzerland, according to Garlinghouse, are examples of countries that are "leading" when it comes to crypto regulation, whereas China and India are cracking down on the business.

"The direction of movement is pretty encouraging in general," Garlinghouse added.

Regulation, according to Brady Dougan, the former CEO of Credit Suisse, is a critical issue of crypto that will likely evolve over time.

Dougan, who now manages fintech startup Exos, told CNBC, "It's a market that's early in its development." "I believe it is a robust market that will continue to grow in a positive direction."

Ripple is a privately held corporation with a market capitalization of $10 billion with investors including Alphabet's venture capital arm GV, Andreessen Horowitz, and Japan's SBI Holdings.