The prolonged legal battle between Ripple and the Securities and Exchange Commission (SEC) is nearing its conclusion as both parties have submitted their briefs. Despite community anticipation of a potential surge in XRP’s price after the case is settled, the token is currently experiencing a downward trend.
The legal disputes surrounding Ripple and XRP stem from the SEC’s lawsuit alleging the sale of unregistered securities. After several developments, Judge Analisa Torres ruled XRP as a non-security, marking a significant victory for the crypto platform.
As the lawsuit approaches its resolution, Ripple and XRP have submitted their briefs to the court. In response to Ripple’s statement regarding XRP’s status as a non-security, the SEC argued against the certainty of this claim. While the SEC proposed a $2 billion settlement, Ripple stated that it would not pay more than $10 million.
Currently, XRP is priced at $0.4949, experiencing a slight decline of 2.27% in a day. Over the past 7 days, XRP has seen a more substantial decrease of 7%, with a notable 9% downturn in one month.
Analysts predict a significant increase in XRP’s price, expecting it to reach a new all-time high this year. Notable figures like JackTheRippler and KingXRP foresee a substantial rise in XRP’s value following upcoming developments in the ecosystem, including the final judgment in the lawsuit, XRP’s integration with banks, Ripple’s IPO, and the potential launch of an XRP ETF. KingXRP, in particular, suggests that XRP could reach $18.57 with the conclusion of the lawsuit.
May 2024, Cryptoniteuae
