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.
While the crypto community is on edge, waiting for next week’s trial, it’s important to mention an upcoming significant event. As reported recently, Ripple and the Securities and Exchange Commission (SEC) will attend a Final Pretrial Conference before Judge Netburn on April 16.
In simpler terms, at this type of court session, the prosecution and defense lawyers negotiate whether it’s best to take a case to trial or settle it amicably instead.
Advocates for Ripple, led by some analysts, have emphasized the potential significance of this development. They believe it could potentially lead to a resolution between Ripple and the Securities and Exchange Commission (SEC). User X, known as JackTheRippler, went so far as to suggest that “the case might be concluded as early as tomorrow.”
XRP Price Outlook
During the recent market downturn, Ripple’s native token experienced one of the most significant declines among cryptocurrencies, dropping by approximately 15% over the past week. However, on April 15, XRP is making a comeback and has regained the $0.50 mark once more.
In simple terms, there’s a strong belief that the price of Ripple could significantly surge if the SEC loses a decisive case against the company. Keep in mind that every one of the three partial court triumphs Ripple achieved in 2023 led to positive reactions from the market.
For those with a keen interest in discovering more reasons why a token’s value could experience significant growth this year, please watch our informative video below.
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2024-04-15 15:06