XRP Price On Edge: Final Judgment In Ripple vs SEC Case

The Ripple (XRP) vs. SEC lawsuit, a closely watched battle in the cryptocurrency industry, appears headed for a final judgment rather than a settlement, according to a former SEC lawyer. This news comes amidst recent speculation fueled by a closed-door SEC meeting and comments from Ripple CEO Brad Garlinghouse.

While Ripple scored a partial victory in July 2023 when XRP was deemed not a security on public exchanges, the ongoing dispute regarding sales to institutional investors continues to cloud the case and impact the XRP token’s price.

Settlement Talk Fizzles

Recent rumors of a potential settlement swirled after a closed-door SEC meeting and a 150 million XRP transfer by Ripple. However, Marc Fagel, a former SEC lawyer, poured cold water on this speculation. He pointed out the absence of a public court filing, a typical step for settlement approvals.

Focus on The Final Verdict

Fagel predicts a final ruling from Judge Torres in the coming weeks. This aligns with expectations from other legal minds involved in the case, who anticipate a final judgment on penalties by late July or early August.

2/ for the next closed meeting (during which time the court might issue a remedies ruling). They would either file something with the court seeking a delay (which they haven’t done) or have the settlement approved outside of a closed meeting.
— Marc Fagel (@Marc_Fagel) July 20, 2024

XRP Market Responds

The protracted legal battle has significantly impacted XRP’s price. Recent speculation caused a surge to $0.63, although the price has since retreated slightly. However, it remains above key technical indicators, suggesting potential for further growth. Increased trading volume also reflects growing interest in the cryptocurrency.

Bullish Sentiment Emerges

Bullish sentiment is evident in the derivatives market. Options traders are placing bets on XRP reaching $0.70, and futures open interest is on the rise. These activities suggest investors anticipate further price increases.

Conclusion: A Pivotal Moment for XRP

With the Ripple vs. SEC case nearing its conclusion, the focus has shifted from settlement rumors to the anticipated final judgment. The XRP market remains volatile, influenced by legal developments and broader market trends. The final judgment from Judge Torres is expected to have a significant impact on the future of XRP and the broader cryptocurrency landscape.