The SEC vs. Ripple lawsuit is expected to continue for another two years, allowing Ripple to buy time through delays. This comes after District Judge Analisa Torres ruled that XRP sales on centralized exchanges and miscellaneous sales by Ripple executives do not constitute an investment contract and therefore did not violate any securities act. As a result, many of the centralized exchanges in the United States that had delisted XRP following the onset of the lawsuit have announced their intent to relist the digital asset for public trading. This has led to a significant increase in XRP trading volume and improved liquidity.
In a letter submitted to Judge Analisa Torres on August 22, attorneys representing Ripple executives in the lawsuit announced that the defendants will not be present during the trial from April 1, 2024, through April 14, 2024. Coincidentally, this is the same period when the fourth Bitcoin halving event is expected to take place. It is interesting to note that the two executives will be absent during this time, as the Bitcoin halving event is a significant event in the crypto industry. However, their absence is not expected to make a huge difference in the trial, as no new evidence will be presented and no new laws will be applied following the summary judgment.
Despite the delays and the absence of the Ripple executives during the trial, legal experts believe that Ripple has the upper hand in winning the case. A victory for Ripple would be a monumental turning point for the entire crypto industry, especially in the United States. It would mean that the SEC does not have jurisdiction over digital assets, and Congress would need to enact a clear regulatory framework for the industry to ensure safe adoption.
Following the recent summary judgment, the price of XRP has experienced short-term volatility as deep-pocketed investors accelerate their accumulation. From a technical standpoint, the XRP price is expected to range between 35 cents and $1.3 until the Bitcoin halving triggers a crypto bull rally. In the meantime, Ripple continues to collaborate with big projects in the stablecoins industry and central banks developing Central Bank Digital Currencies (CBDCs).
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Overall, the SEC vs. Ripple case is expected to continue for another two years, allowing Ripple to buy time through delays. The recent ruling in favor of Ripple’s argument that XRP sales do not constitute an investment contract is a positive signal for the company. The absence of Ripple executives during the trial, coinciding with the Bitcoin halving event, is unlikely to have a significant impact on the case. Legal experts believe that Ripple has the upper hand in winning the case, which could lead to a clear regulatory framework for the crypto industry in the United States. In the meantime, XRP is experiencing increased trading volume and improved liquidity, while Ripple continues to work on partnerships and developments in the stablecoins and CBDCs sectors.
