The post SEC vs Ripple: Case Insiders Confirm the End is on Horizon to Pave Way for Mainstream Adoption of $XRP appeared first on Coinpedia Fintech News
After more than three years of legal battles, the XRP global community is highly anticipating the imminent closer of the U.S. SEC vs Ripple Labs case under Donald Trump’s administration. The partial victory delivered through the landmark ruling by Judge Analisa Torres on July 13, 2023, did not fully quench the Ripple community, thus leading to the ongoing appeal to counter SEC’s.
Moreover, Ripple’s XRP sales to institutional investors were deemed to have violated securities laws, thus leading to the permanent injunction in the ruling.
Ripple Fights for a Better Future
According to a report by Eleanor Terrett, two close sources with the ongoing SEC vs Ripple case confirmed that the ‘case is in the process of wrapping up and could be over soon’.
As previously predicted, Ripple has been negotiating with the current SEC administration to have the existing permanent injunction on XRP sales to institutional investors dropped.
Moreover, the U.S. Congress is in the process of drafting and rolling out clear crypto regulations, which means Ripple was unfairly treated in the ruling that fined it $125 million.
“Accepting the Torres ruling as it stands would mean that Ripple is essentially agreeing to admit to wrongdoing — but now the SEC itself is seemingly unsure whether any wrongdoing occurred,” Terrett noted.
Impact on the XRP Market
The recent announcement by President Donald Trump that XRP will be among the digital assets encompassing the country’s strategic crypto reserves rejuvenated the demand by institutional investors. Additionally, the current SEC administration has dropped charges for several crypto firms that were persecuted under Biden’s administration.
As a result, the XRP price has confirmed a bullish breakout from a multi-year consolidation following the palpable pump in the past five months.
From a technical analysis standpoint, XRP price could be preparing for a major bullish breakout toward price discovery in the coming months.