Ripple v. SEC Lawsuit: What to Expect in April?
TL;DR
The long-standing lawsuit between Ripple and the SEC is set to enter a critical phase with the start of the grand trial at the end of April.
The company has gained momentum due to partial victories secured in 2023.
The lawsuit between Ripple and the US Securities and Exchange Commission (SEC), which has been ongoing for over three years, will witness several key developments this month.
Perhaps the most important one is the start of the grand trial, scheduled for April 23. Its final resolution could have a positive impact on XRP’s price (in the event of a decisive win for Ripple, of course). The opposite is also very much true.
The crypto community, though, should keep in mind that the trial’s beginning does not necessarily mean the legal case will be over this year. Not long ago, the AI-powered chatbot ChatGPT estimated that the lawsuit might be finally resolved in 2026 due to delays and appeals from both sides. ChatGPT is no legal authority, of course, but multi-billion lawsuits do not usually get resolved that quickly.
Prior to the trial, Ripple and the regulator must comply with mandatory court rules. The SEC filed its brief with respect to remedies, while the company’s opposition letter should come no later than April 22.
Despite their differences, Ripple and the agency recently shook hands on a mutual effort. Specifically, they filed a joint letter seeking the authorities’ approval “to govern sealing issues relating to the upcoming remedies-related briefing.”
Some assume that Ripple will enter the trial with the upper hand after securing three vital (yet partial) court victories throughout 2023. The price of its native token reacted positively to each of those, soaring by double digits after the first win.
The possible outcome of the lawsuit is one factor that could fuel an XRP rally this year. Those curious to observe other elements hinting that the asset is on the verge of a price explosion in the following months, feel free to watch our dedicated video below:
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Filed under: Bitcoin - @ April 2, 2024 9:15 pm