The price of XRP, waiting for a decision of the SEC
The United States Stock Exchange and Securities Commission (SEC) starts today a debate to decide whether to withdraw the lawsuit against Ripple Labs, the XRP cryptocurrency issuing company.
The legal conflict, initiated in December 2020began when the SEC accused Ripple of raising more than 1.3 billion dollars through an initial XRP offerconsidered by the regulator as an unregistered value title.
In March, the CEO of Ripple, Brad Garlinghouse, announced that the SEC, influenced by a pro-written position ordered by the president of the United States, Donald Trump, had dismissed the case after four years of litigation.
However, in June, Judge Analisa Torres, from the Southern District Court of New York, rejected a joint motion of Ripple and the SEC To cancel a previous court order and reduce the fine imposed on the companyas reported by cryptootics.
On this, lawyer Bill Morgan said: “There is no pending decision of the court. The role of Judge Torres has ended.”
Morgan explained: “We are only waiting for the SEC commissioners to vote on the dismissal of the appeal and that the parties take the final step by dismissing their respective appeals.”
He clarified that “until the appeals are dismissed, both those of Ripple and those of the SEC formally remain in process.”
Morgan added that Diseessation is probable before August 15, a deadline to inform the Court of Appeal On the state of the appeals, but warned: “The parties could request another extension. It seems unlikely, and I do not understand why another extension is needed, but I would not surprise me.”
Meanwhile, the XRP price remains above 3 dollars, No impact per litigation or external factors such as the Federal Reserve’s rates policy or import tariffs in the United States.
In the last 24 hours, its price increased by 4%. The 3 dollars are consolidated as a support and resistance zone, where XRP faces difficulties to climb or fall, says analyst Ali Martinez. Although $ 2.80 could act as temporary support, chain data indicate that the firmer support is below $ 2.48.
