Important Ripple vs. SEC Development This Week: Is a Settlement in the Cards?

TL;DR

  • Ripple’s long-standing lawsuit with the US SEC is approaching a critical pretrial conference on April 16 that may hint at a potential settlement.
  • Analysts speculate that a favorable outcome for the firm could trigger a significant price rally for XRP, reflecting positive responses to previous partial court victories in 2023.

The Upcoming Development

The lengthy legal spat between Ripple and the United States Securities and Exchange Commission (SEC) is nearing its final chapter, with a grand trial scheduled for April 23. The lawsuit started in December 2020, when the regulator accused the company of illegally raising more than $1.3 billion in unregistered securities offerings by selling XRP tokens.

And while the crypto community awaits the trial next week, an essential development that will take place on April 16 is also worth noting. According to a recent announcement, Ripple and the SEC will have a Final Pretrial Conference in front of Judge Netburn.

Generally speaking, this is a court hearing where a prosecutor and a defense attorney meet to discuss whether a lawsuit should go to trial or be resolved via a mutual agreement.

Pro-XRP analysts have stressed the importance of the event, claiming it may be followed by a settlement between Ripple and the SEC. The X user JackTheRippler even said the case “could end tomorrow.”

XRP Price Outlook

The price of Ripple’s native token was among the worst-affected cryptocurrencies during the latest market crash, dropping by 15% on a weekly scale. Today (April 15), though, XRP is recovering, crossing the $0.50 mark once again.

XRP Price
XRP Price, Source: CoinGecko

Some believe that the price may rally substantially in the event of a decisive Ripple win against the SEC. Recall that XRP reacted positively to each of the three partial court victories that the company secured throughout 2023.

Those curious to explore additional factors signaling that the token’s value might be on the verge of an explosive surge this year, feel free to check our dedicated video below:

SPECIAL OFFER (Sponsored)
LIMITED OFFER 2024 for CryptoPotato readers at Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!

Source link

Leave a Comment