The legal battle between Ripple and the US Securities and Exchange Commission (SEC) has been ongoing for over three and a half years. As the trial phase continues, industry watchers anticipate a resolution that could impact Ripple’s XRP market performance significantly.
Recently, attorney Fred Rispoli predicted that the case might conclude by the end of July with a potential penalty of no more than $25 million for Ripple and no disgorgement. This prediction has sparked speculation on whether XRP’s price could reach the $1 mark if the outcome favors Ripple.
According to the AI-powered chatbot ChatGPT, historical price surges have been observed in XRP following favorable court rulings, such as Judge Analisa Torres’ decision that Ripple’s sales of XRP did not constitute securities sales. This led to an over 80% spike in XRP’s price.
While there is optimism surrounding a positive outcome for Ripple, doubts remain about the timeline of the lawsuit’s resolution. The complexity of the legal process and the potential for appeals from both parties could prolong the final decision.
One significant factor in the legal battle is the size of Ripple’s potential fine. Initially, the SEC sought a hefty $2 billion fine, which was later reduced to $102.6 million. Ripple has argued against such high penalties, citing recent legal developments, including a ruling related to crypto exchange Binance.
Ripple filed a Notice of Supplemental Authority referencing the dismissal of the SEC’s claims against Binance’s BNB token sales, seeking to leverage this decision in its favor. However, the SEC maintains that this ruling is irrelevant to the case involving Ripple.
As the legal saga continues, industry participants are closely monitoring the developments and their potential impact on XRP’s price performance. The outcome of the lawsuit is expected to be a key determining factor in shaping Ripple’s future in the cryptocurrency market.
