XRP is at the center of a high-stakes legal battle that could have a significant impact on the industry. XRP has led a surge in crypto prices recently amid growing speculation that Ripple, the blockchain payments company behind XRP, may be close to a settlement with U.S. regulators.
Ripple vs. SEC Judgment
Given Ripple’s successive litigation victories, most legal experts believe that a settlement between the company and the SEC is unlikely. In our previous investigation, we learned that former SEC lawyer Mark Feigel has denied rumors of a settlement.
In a recent Bloomberg Television interview, Ripple Labs CEO Brad Garlinghouse hinted at a conclusion but remained tight-lipped about the SEC settlement talks. However, he showed optimism in a forthcoming resolution, citing a recent court decision that favored Ripple. This decision held that XRP sales to ordinary investors on exchanges did not make up investment contracts, disputing the SEC’s regulatory authority.
Regular SEC Meetings: What Does It Signify?
The SEC’s secret meeting on July 18 has sparked conjecture among the cryptocurrency community. Fagel clarified that these closed-door sessions are typical and do not show any settlement talks. Investors are interested to see if this meeting will provide conclusive information about XRP’s regulatory status. Zaheer Ebtikar, founder of the cryptocurrency fund Split Capital, stated that the entire excitement around XRP relies on expected regulatory judgments.
Strategic playmaking by Ripple
In contrast to the SEC’s demand for a fine of $102.6 million, Rispoli estimates that Judge Analisa Torres will impose a fine of less than $25 million against Ripple and will return none of the money. In contrast, Ripple has suggested a fine of $10 million.
XRP Price Breakout: Expert Forecasts Magnificent Profits
After a massive drop, the XRP price has surged to a 4-month high. According to cryptocurrency researcher Dark Defender, if a key level is broken during the current rally, the token could soon see massive gains.
In a social media post, Dark Defender expressed XRP has entered qualification mode after bouncing back from the past “frontier” at $0.3917.
Dark Defender claims that if XRP can move above $0.6649, it could move to the $18 to $36 price range, which would represent a 2810% increase in the former and a potential increase of 5740% in the latter.
As depicted in the chart below, trading above the 200-day EMA has consistently led to significant gains in XRP’s price, showing that consolidation above it could lead to further price growth.
