Ripple vs SEC: Current Status and What to Expect Next

Since December 2020, Ripple has been in a legal battle with the US Securities and Exchange Commission (SEC). The SEC accused Ripple of raising over $1.3 billion through unregistered securities offerings by selling XRP. As this intense fight continues, many are wondering what will happen next.

Meanwhile, Ripple’s cryptocurrency, XRP, has been around $0.50 since US District Judge Analisa Torres ruled that XRP is not a security. After this news, XRP briefly surged to $0.93, highlighting the uncertainty in the market due to the ongoing legal issues.

Disagreements Extend the Case

Though it seemed the lawsuit might end soon, new disagreements have prolonged it. On May 13, Ripple filed a motion to seal remedies-related documents to avoid “significant harm” if these documents were public.

The SEC responded on May 20, asking the court to reject Ripple’s request, saying the information is crucial for understanding Ripple’s past XRP sales. The SEC also accused Ripple of hiding the extent of “discriminatory” discounts.

Ripple countered, stating that these documents are now irrelevant due to changes in their sales procedures. They also highlight that the court ruled XRP is not a security, which should differentiate it from the sale of investment contracts.

Predictions on the Case Outcome

Ashley Prosper, a notable XRP community member, believes Judge Analisa Torres might make her final decision between July and September 2024, with a possible settlement during that time.

Lawyer Jeremy Hogan thinks a quick resolution is possible, suggesting a $100 million settlement soon. However, the SEC is seeking nearly $2 billion in fines from Ripple.

Investor Concerns and Market Impact

Investors are cautious due to the uncertain regulatory status of XRP, causing its price to fluctuate between $0.530 and $0.4965. Many experts predict that a favorable court ruling for Ripple could lead to a significant price increase, potentially reaching its all-time high of $3.34, last seen in 2021.

Also Read : Ripple vs SEC Lawsuit Nears the End: Will XRP Price Crash?

The Ripple vs. SEC saga continues, with a potential resolution on the horizon. Will XRP finally reach for the moon, or will this uncertainty continue to hold it back? Stay tuned!