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The Ripple-SEC tension, which has been occupying the cryptocurrency world for a long time and may affect the fate of the entire market, is still unresolved. As the deadline approaches for the parties to determine the conference dates in the case that has become a never-ending story and where Ripple has gained significant momentum, Ripple CEO Brad Garlinghouse targeted the SEC in a statement.
SEC Must Make a Decision
Ripple CEO Brad Garlinghouse gave an interview at Fintech Week. In the interview, Garlinghouse emphasized the need for the SEC to clarify its stance on cryptocurrencies. He also commented on the company, stating that over $150 million has been spent on the SEC case.
Another statement he made was about the ongoing legal process. Garlinghouse stated that Ripple will take the SEC case to the higher court and said the following:
Ripple is fully committed to this case until the end.
XRP Current Situation
As the legal process approaches its end, the history of the case still remains fresh. After a partial Ripple victory in July, amidst stagnant market conditions, it rose from $0.5 to $0.94 in an incredible surge. However, the price movement then gave way to a partial decline, almost wiping out all the gains.
Today, with the impact of Spot Bitcoin ETF news, the XRP price started to rise and solidified its position among the biggest gainers of the week. Although the price has remained relatively stable in the past 24 hours, it has witnessed a noticeable increase on a weekly basis and is currently trading at $0.687.
Following the determination of the conference date and the release of the decisions in the Ripple-SEC case, sharp movements in the price may be observed. In the event of a Ripple definitive victory, the price could be pushed upwards, while in the case of an unfavorable scenario, the price may start moving towards unexpected bottom levels.
