XRP News Today: Ripple vs SEC Decision Awaited as XRP Price Hopes Rise

The legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) continues to captivate the crypto community. Both parties have recently renewed their joint request for an indicative ruling from Judge Analisa Torres, with rumors circulating that a decision could be imminent as early as Monday.

If the court approves the motion, many XRP supporters are optimistic that the token could surge past $5. However, not everyone shares this enthusiasm. Pro-XRP lawyer Bill Morgan has cautioned the community against getting overly excited. In a recent post, Morgan reminded followers that Judge Torres rejected a similar joint motion just seven days earlier. He suggested that the swift decision in the previous case might indicate that the new motion could face a similar rejection.

Morgan explained that the strongest aspect of Ripple and the SEC’s request is their argument that modifying the final judgment is essential for their settlement. If Judge Torres agrees to reduce Ripple’s fine and dissolve the injunction, it would conclude the case, saving court resources by closing both the appeal and cross-appeal. However, Morgan also pointed out a potential weakness in this argument. He noted that it was Ripple’s choice to make the settlement dependent on modifying the final orders. The parties could have simply agreed to end the legal fight, but Ripple sought more favorable terms. Now, they are asking the court to accept a deal structured on their terms.

“I think she might grant it,” Morgan admitted, “but it also wouldn’t surprise me if she doesn’t.”

The cryptocurrency community is eagerly awaiting the outcome of the legal battle between Ripple and the SEC, as it is expected to have significant implications for the price of XRP. The lawsuit, which has been ongoing for several years, revolves around whether XRP should be classified as a security. The SEC alleges that Ripple conducted an unregistered securities offering by selling XRP to investors, while Ripple argues that XRP is a currency and not a security, and therefore, does not fall under the SEC's jurisdiction.

A legal expert, who wished to remain anonymous, advised against expecting a dramatic price surge to $5 following the lawsuit's decision. The expert noted that while a favorable ruling for Ripple could provide a short-term boost to XRP's price, the long-term impact would depend on various factors, including market sentiment and regulatory clarity.

The expert also emphasized the importance of regulatory clarity for the broader cryptocurrency market. A clear ruling from the SEC could provide much-needed guidance for other digital assets and help to legitimize the industry in the eyes of regulators and investors alike. However, the expert cautioned that the outcome of the lawsuit could also lead to increased regulatory scrutiny, which could have a negative impact on the market.

The expert's comments come as the available supply of XRP on exchanges has been decreasing, raising expectations of a possible supply-driven price rally. If interest in XRP picks up, it could lead to a sharp increase in its price. However, the expert warned that investors should not get their hopes up for a dramatic price surge to $5, as the outcome of the lawsuit is still uncertain.

The expert also noted that the circulating supply of XRP is currently around 58.82 billion tokens. Assuming full coverage, a favorable ruling for Ripple could push the XRP price to about $42.50. However, the expert cautioned that this is a hypothetical scenario and that the actual price impact would depend on various factors, including market sentiment and regulatory clarity.

In conclusion, while the outcome of the Ripple lawsuit is expected to have significant implications for the price of XRP, investors should approach the situation with caution. A favorable ruling for Ripple could provide a short-term boost to XRP's price, but the long-term impact would depend on various factors, including market sentiment and regulatory clarity. Investors should also be prepared for the possibility of increased regulatory scrutiny, which could have a negative impact on the market.