Ripple and the United States Securities and Exchange Commission (SEC) have been engaged in a legal battle for years, focusing today on a conference before the final hearing in a New York court. While XRP struggles with the $0.50 resistance, this conference will serve as a platform for the parties to explore resolution options before moving to the formal hearing stage. The date and time set in the legal calendar indicate that the conference is planned and will proceed.
Pre-Trial Conference Could Influence XRP Price
The lawsuit between the SEC and Ripple has become a significant factor determining XRP prices since 2020. The latest development is today’s final pre-trial conference, scheduled to start at 21:00 Turkey time, according to the legal calendar set by the New York court.
Some XRP holders hope for a settlement between the two parties, but they think the likelihood of such an agreement is low if the U.S. regulator appeals Judge Analisa Torres’s decision that XRP is not a security.
Of course, this development could reflect on the investors’ side, potentially positively impacting the XRP price if a settlement occurs. Such a settlement would mean the end of the pressure on XRP. However, it is also important not to overlook the pressure Ripple has with its XRP holdings. Let’s remember that the XRP price once surged to $0.96 during the summer months due to positive news. A similar movement could occur today if the proceedings conclude positively.
Legal and Criminal Calendar
Judge Analisa Torres decided on July 13 that the secondary market sales of the cryptocurrency XRP on exchanges are not securities. This programmatic sales decision, considered a significant win for Ripple, is expected to be appealed by the SEC. XRP advocate and crypto influencer Ashley Prosper recently tweeted that a settlement between the parties is likely.
It is important to note that the pre-trial conference could lead to a settlement in the lawsuit or it might not. This conference could be a critical step in the legal process between Ripple and the SEC and could have significant effects on the XRP markets. Let’s see what outcome the settlement conference brings in the evening.
