Software Dev to XRP Holders: Keep an Eye On December 4. Here’s why

Attention is building around the SEC’s upcoming December 4 meeting following a detailed analysis from software engineer Vincent Van Code, which has garnered interest within the crypto sector. His commentary, prompted by Cointelegraph’s update on the agency’s plan to examine corporate governance rules and the tokenization of equity securities, presents a structured case for why the XRP Ledger may be aligned with the direction regulators are preparing to explore.

Regulatory Background and Market Conditions

Vincent begins his assessment by revisiting the regulatory progress made earlier in the year. He points to the conclusion of the SEC’s case against Ripple in August 2025, which ended with a $125 million settlement and no further appeals. He references the continued relevance of Judge Torres’ 2023 ruling, confirming that XRP is not considered a security when traded on secondary markets, a determination he views as essential for institutional comfort.

He also references market indicators surrounding XRP at the time of his post, noting a price of $2.18 and a market capitalization of approximately $136 billion. He highlights that Bitwise’s XRP ETF had gathered more than $422 million in inflows by November 21. With representatives from BlackRock, Coinbase, and Nasdaq scheduled to participate in the SEC’s December 4 meeting, Vincent considers the timing important for evaluating blockchain-based equity settlement.

Technical Foundations of XRPL

A central part of Vincent’s commentary focuses on the XRP Ledger’s operational history and the upgrades that have been added over time. He cites more than 3.9 billion processed transactions, over 70 million ledgers, settlement speeds between three and five seconds, and minimal transaction costs. He also highlights version 2.5.0, released in June 2025, which introduced batch transactions and permissioned decentralized exchange controls that he believes are suitable for institutional requirements.

Vincent notes a common misunderstanding around transaction throughput. He explains that wholesale settlement processes rely on a relatively modest volume of daily instructions compared to retail trading volumes. According to his view, batched settlement on XRPL could meet these needs at fewer than 100 transactions per second, making capacity concerns less significant than often assumed.

Compliance Tools and Institutional Application

Vincent emphasizes the DID amendment, still under community consideration, which integrates decentralized identity capabilities for on-chain verification and KYC. Together with permissioned domains implemented in October 2025, he believes these features create a compliance structure that may appeal to panelists at the SEC meeting, including academic specialists and market experts.

His assessment outlines how major brokers could theoretically use XRPL for the tokenization and settlement of equity shares, reducing reliance on conventional clearing systems. He contrasts this with Ethereum’s ecosystem, which he describes as strong for retail activity but less suitable for wholesale financial infrastructure due to cost and risk considerations.

Vincent concludes by suggesting that the outcome of the December 4 meeting could influence how regulators view blockchain-based settlement frameworks. He further stated that if the SEC acknowledges the relevance of XRPL’s compliance features, it may open the way for broader institutional evaluation of the ledger’s role in future market infrastructure.