- The crypto community eagerly awaits the end of the SEC vs Ripple battle this month.
- XRP has been confirmed to be not a security, yet the final showdown is yet to take place.
- Attorney Fred Rispoli expects the battle to conclude on July 13 or July 31.
The crypto community eagerly awaits a verdict in the ongoing legal battle between the SEC and Ripple Labs. The status of XRP has already been confirmed as not a security leading to a win for XRP. Yet the battle still continues.
The SEC initially sought a hefty $2 billion penalty and an injunction prohibiting XRP sales to institutional investors. In contrast, Ripple proposed a much smaller $10 million penalty.
Pro-crypto lawyer Fred Rispoli predicts the end of the battle on July 13 or July 31.
XRP holders expect Ripple to make a massive surge in price value that could push XRP to incredible price highs. In fact, one analyst expects XRP to make a 3853% price surge towards the $17 price high.
Ripple’s Rejection and Market Impact
Ripple rejected the SEC’s offer to lower the proposed penalty to $102.6 million recently. This move could have significant repercussions for both Ripple and XRP.
The company has already spent over $200 million on legal fees which highlights the high stakes involved. Meanwhile, XRP’s price remains suppressed compared to other major cryptocurrencies like Bitcoin and Ethereum.
Investors are closely watching Judge Analisa Torres’s ruling. If she rules A favorable ruling could set a precedent and limit unfair actions against crypto firms. Conversely, an unfavorable ruling may further dampen XRP’s prospects.
XRP Price Outlook
Despite the uncertainty, XRP’s price shows signs of bottoming out around $0.45. The token might capitalize on bullish indicators and potentially surge above $0.5 should sentiment improve. However, the ultimate price trajectory hinges on the court’s decision.
Some optimistic scenarios suggest that a favorable ruling could propel XRP back toward its all-time high of $3.40 and even beyond, possibly reaching $10 or more. Conversely, a negative outcome may keep XRP’s price subdued.
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