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The ongoing Ripple–SEC case, which has remained a mystery in the crypto world for years, continues to unfold with new developments.
New Decision in the Case
New decisions are being made in the Ripple-SEC case. A new document was released minutes ago, stating that the parties will propose a joint briefing schedule on the resolution methods until November 9, 2023.
In the event that the parties cannot agree on a program, Judge Analisa Torres, who is the judge of the court, will determine the program.
SEC and Ripple intend to discuss and propose a potential briefing program to the Court by November 9, 2023, regarding the pending issue of the appropriate resolution methods against Ripple for violations in relation to the Corporate Sales of XRP in the 5th Section, or if the parties cannot agree, request a briefing program on a disputed basis from the Court.
Current Status of XRP
Following the court’s decision in July, Ripple achieved a major victory. This victory reflected on XRP, resulting in a price increase up to $0.94. However, due to the overall market conditions, the price started to decline. After the decline, it dropped to $0.42, losing all the gains it had made.
Following these events, news came recently regarding the lawsuit filed by the SEC against Ripple executives. After the dismissal of the case against Ripple CEO Brad Garlinghouse and Chairman Chris Larsen, there was a noticeable increase in the price.
Furthermore, the overall market surge and the news of Bitcoin Spot ETF also influenced the price and helped XRP to trade above $0.50 again. As of the time of writing, XRP is trading at $0.55, with a 1.36% increase in the last 24 hours.
