The recent quiet period in the SEC vs Ripple case has been cited as a factor in the slight drop in the price of XRP. However, upcoming rulings in the SEC vs. Ripple case, the SEC vs Coinbase legal battle, and other variables could have a future impact on the price.
XRP has slipped below $0.53, currently trading at $0.52, with a 0.67% decrease in the last 24 hours and a 3.5% decrease in the last 30 days. Analysts attribute this lack of movement to the absence of updates in the SEC vs. Ripple case news. But this could change as investors anticipate the court’s decision on Ripple’s Motion to Seal, which will determine the penalty for violating US securities laws.
The SEC had initially proposed a nearly $2 billion penalty and an injunction against XRP sales to institutional investors. Ripple strongly opposed this, arguing for a figure closer to $10 million. The ongoing legal battle has been characterized by Ripple’s resistance against what they perceive as excessive penalties levied by the SEC.
A verdict in the case is expected in the summer, with the SEC potentially appealing against the ruling on the Programmatic Sales of XRP. Additionally, the outcome of the Empower Oversight lawsuit against the SEC, regarding allegations of a conflict of interest, could also influence the price of XRP.
The pro-crypto stance of former President Trump and the upcoming decision in the SEC vs Coinbase case are also key areas of interest. A Republican victory in the US election could benefit the crypto industry, potentially impacting the SEC’s stance on XRP. Furthermore, a positive outcome for Coinbase in their legal battle against the SEC could lead to regulatory clarity, boosting XRP’s price.
Currently, XRP remains below key moving averages, but a breakthrough above these levels could signal a bullish trend. On the other hand, a decline below these lines could push the price lower. Investors are advised to stay informed and monitor developments in the SEC vs Ripple case and other related legal battles.