In XRP Lawsuit News, XRP token future depends significantly on the ongoing fight between Ripple Labs and SEC. After the SEC files its final response, the XRP price graph and the lawsuit’s outcome are much awaited.
The SEC and the Ripple Labs ongoing legal dispute has an impact on the future of XRP. This could have a major effect on its value and position in the market. The decision could have an affect on the larger digital asset market by creating a precedent for the US government’s classification and regulations of crypto.
Ripple tries to protect its sensitive information
Ripple breaks the inactive period of the case by filing a reply. It says, that to maintain competition Ripple wants to seal its financial agreements.
James K. Filan on its Twitter handle posted some insights of XRP “Ripple has filed a reply letter in further support of its Motion to seal documents in connection with the SEC’s Motion for Judgement and Remedies.
Is this the Partial Victory of Ripple?
After the dismissal of accusations related to programmatic sales of XRP, it seems currently XRP has the upper hand. The SEC has also dropped its remaining claims against Garlinghouse and Larsen in October. Instead of these selling XRP to institutional investors is still a challenge.
XRP Lawsuit News: Effect on XRP if Ripple wins
Earlier, the XRP token shows significant upgradation due to the partial win of Ripple. If Ripple wins it is likely to expect a major U-turn in XRP price. It will also increase the usage and acceptance of XRP.
Symmetrical Triangle Pattern Showing the hike of XRP price
For the past four years, XRP has been trading alongside thus forming two converging trendlines. The XRP price is currently at $0.52 and it is at the lower trendline of the triangle pattern.
If the pattern breaks it will change the market insides from selling on bounces to buying on dips. This post-breakout will lead to a rise in XRP price from $2 to up to $10.
While XRP has a potential to grow it is important to remain cautious about the crypto market and conduct their own research. The cryptocurrency market is highly volatile, and prices could fluctuate rapidly.
Also Read: XRP Lawsuit Update: Ripple VS SEC Heads for Conclusion?
