- The legal battle between SEC and Ripple seems to have certain remedies after almost 4 years.
- Ripple’s XRP has recorded a bullish sentiment over the last 24 hours.
Since 2020, Ripple [XRP] and the United States Security and Exchange Commission (SEC) have been in a continuous legal battle. At present the longstanding conflict has come to a common point with certain remedies which are yet not the final solution of the case.
Remarking on the same, James K. Filan, a defense lawyer revealed,
“#XRPCommunity #SECGov v. #Ripple #XRP The parties have filed a joint sealing proposal “to govern sealing issues relating to the upcoming remedies-related briefing to be filed in this case.”
How is this affecting XRP’s price movement?
The proposal was submitted to Judge Analisa Torres of the Southern District of New York, U.S. District Court, on the 19th of March. If accepted, sensitive details like Ripple’s finances and XRP sales would remain undisclosed, potentially affecting market sentiment.
Criticising SEC’s stand, CEO of Ripple Labs Brad Garlinghouse, added,
“The SEC picked fights with the industry and is losing badly in the Courts. They’re now fighting fellow regulators like the CFTC, and falling behind international counterparts. At what point will the SEC realize they will lose the war against ETH just as they lost against XRP?”
Seeing the uncertainty surrounding the regulatory aspect of Ripple’s XRP, the market still seems to be on an upward trajectory highlighting positive sentiment among XRP supporters. At the time of writing, XRP was trading at $0.6214 with a 1.2% hike over the last week.
Will XRP still top the altcoin charts?
Additionally, the upcoming Bitcoin halving is yet another factor that has garnered attention from investors and enthusiasts for XRP.
Monica Long, Ripple’s president, recently emphasized the significance of 2024 in the institutionalization of cryptocurrencies. In a post on X (formerly Twitter), she highlighted,
“2024 is quickly shaping up to be the year of crypto institutionalization on a macro scale (tho worth noting that several TradFi companies launched crypto access, tokenization products, etc. in previous bear markets).”
This highlights Ripple’s ongoing efforts to bridge traditional finance and the crypto space for broader adoption and innovation. Hence, despite various speculations and the ongoing legal battle, Ripple (XRP) remains one of the top contenders in the altcoin market.
