Ripple vs SEC: Here’s Why March 26th Could Be Make-or-Break for the XRP Lawsuit

Published by

Mustafa Mulla

March 25, 2024

Ripple vs SEC: Ripple To File Response on SEC’s $2Bn Penalty Demand Today, on April 22

In the crypto world, few clashes have garnered as much attention as the ongoing dispute between Ripple Labs and the US Securities and Exchange Commission (SEC). At the heart of this legal tussle lies the question of XRP’s regulatory status, a debate that has kept the industry on edge.

As tensions mount, all eyes are on one key date: March 26, which could prove to be the make-or-break moment for Ripple and its native token, XRP.

The Countdown Begins

Recently, James K. Filan, Ripple’s defense lawyer and a former federal prosecutor, took to Twitter to underscore the significance of March 26. In a cryptic tweet, he hinted at a major development in the legal battle, sending ‘ripples’ of speculation through the community.

On March 22, 2024, the SEC quietly filed remedies-related briefs and supporting documents, hinting at progress in the case. The revised version, expected by March 26, could mark a crucial step forward in the legal dispute.

The “brief for opening remedies” is key in outlining the SEC’s legal and financial demands against Ripple Labs, setting the stage for a high-stakes legal showdown.

Key Dates Ahead

Here’s what to keep track of:

March 22, 2024: SEC submits a proposed decision document.
March 25, 2024: Closed-door meeting between SEC and Ripple.
March 26, 2024: Public release of the revised SEC document.
April 22, 2024: Ripple’s deadline to respond to the lawsuit.
April 23-24, 2024: Intensive discussions on Ripple’s response.
May 8, 2024: Deadline for SEC’s response.

XRP Price Analysis

Despite regulatory uncertainty, XRP remains resilient. With marginal volatility, it’s currently trading at $0.632, showing a 16% gain over the past month, reflecting investor confidence amidst the legal turbulence.

Also Read: Ripple CEO Slams SEC, Warns Ethereum Battle Threatens USA Crypto Dominance

The future of XRP hangs in the balance. What are your takes on this ongoing legal battle?

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.