While Ripple's case drags on with the US Securities and Exchange Commission, the tug-of-war is due to an uncertain landscape.
Investors were growing increasingly hopeful that December could be a monumental moment for Ripple. The filing of summary judgment on Nov. 30 raised expectations. On Dec. 2, the parties to the lawsuit met to discuss the court filings. Then the summary judgments became public on Dec. 5, raising speculation that the case was coming to an end. Since Ripple had previously posted milestone profits, investors expected the case to end "any time" as of Dec. 5.
Recently, Cardano co-founder Charles Hoskinson hinted that December 15 would be the day the decision could be made. In an AMA session, the blockchain entrepreneur said, "that he heard rumors that the Ripple case will be settled on December 15. Let's see. Either way, that could have catastrophic consequences for the industry."
Ripple's case with SEC will be settled in April or May, pro-XRP lawyer says:
"As things stand, Ripple enthusiasts remain in limbo as the date for settlement is disputed. XRP supporter and attorney John Deaton says the outcome could wait until April or early May. Deaton was responding to a question during the RealVision Crypto briefing whether a March 31 settlement was possible."
According to Deaton, March 31 would be the earliest date, based on the fact that there are numerous pages of documents that the court must study before final judgment. The attorney said 17 amicus briefs have been filed, making an untimely settlement difficult.
What does the outcome of the case mean for XRP?
The recent price action of XRP shows that investors are eager to receive the ruling. The recent consolidation implies that traders are cautious, as any negative outcome could trigger a price drop.
Nevertheless, XRP bulls remain on standby should the case turn out in their favor. If Ripple wins, it would mean that XRP would not be classified as a security, as the SEC has long claimed. In the meantime, a breakout at $0.4 remains doubtful unless some positives emerge in the case.
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