Will Ripple (XRP) Win or Lose Its SEC Case?
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Answer Will Ripple (XRP) Win or Lose Its SEC Case?
It is no different from the fact that the conflict between Ripple and the US Securities and Exchange Commission has been going on for a long time, and its outcome will be important not only to Ripple, but to the cryptocurrency market as a whole.
Where many analysts and experts believe that even if Ripple wins, there will always be room for more court cases about regulating cryptocurrencies, but in a more visible way.
The majority think Ripple wins its case against the SEC?
XRP traders and investors have long been hoping that Ripple will win its case against the SEC.
Looking at the current price action of XRP, it seems that more traders are optimistic about Ripple’s victory than those who think otherwise.Read:Spotify is considering adopting cryptocurrency payments … details here
Over the past week, the price of XRP has increased by as much as 10%, indicating a high level of optimism in the market.
This optimism contrasts sharply with most other cryptocurrencies, which are already suffering heavy losses this week.
Currently, the Ripple currency is affected by the market as a whole and has also fallen by about 8% in the last 24 hours, according to the platform CoinMarketCap.
Ripple (XRP) is ranked seventh among cryptocurrencies based on total market capitalization.
The daily volume of XRP has increased significantly in the past few days, with the trading volume of $1.33 billion on September 16 rising to over $2.79 billion now.
If Ripple wins its case against the SEC, the victory will likely push XRP to a new all-time high.
David Gogstein, a cryptocurrency-related podcast host, told the market that the market is betting on a win for Ripple, telling the following:
XRP is moving again.
People should feel that the case is about to end in Ripple’s favour.Read:US Senator Cynthia Loomis plans to introduce a comprehensive Bitcoin bill in 2022
Beginning of the last stage:
The SEC’s case against Ripple is likely to be in its final phase, especially as the case moves to expedited judgment proceedings.
The lawyers said that both parties submitted their requests regarding the process.
Ripple, along with the other defendants, has applied for an expedited judgment.
There is a possibility that the SEC may choose to settle the case.
The topic is for follow-up and until now, there is nothing official.
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