Ripple Vs SEC Case Ends Soon, XRP Price Is Fresh!

XRP prices are up again. (Photo; Doc. Bitcoin Systemi)

JAKARTA - The case of Ripple vs the US Securities and Exchange Commission (SEC) is again in the spotlight. Speculations regarding the resolution of this prolonged legal dispute emerged, bringing fresh air to the price of XRP.

The price of XRP jumped to $ 0.63 last week, driven by high expectations of case settlement and launch of the XRP ETF. The trading volume of XRP on the Asian crypto market, particularly South Korea, has also jumped dramatically. This shows the high interest of investors, particularly in the Asian region, in the development of the case.

Ripple vs SEC Feud When Will It End?

XRP supporters are waiting for the final verdict in the remedies phase by Judge Torres. Speculation of the settlement emerged after the SEC's closed meeting, Ripple's 150 million XRP movement, and Ripple CEO Brad Garlinghouse's comments, regarding the prospect of completion.

Marc Fagel, a former SEC security attorney, gave a different view. He stated that there was no evidence of a peace agreement between Ripple and the SEC. According to him, settlement approvals are usually not discussed in closed meetings, especially at the current Ripple case stage.

"If law enforcement teams have negotiated with Ripple, they should have told the court not to issue a remedies ruling in advance pending SEC approval," Fagel added.

Fagel estimates that the final decision regarding the remedies will come out in the next few weeks. He believes Judge Torres will issue a final decision, while Judge Netburn's decision on the remaining motions will likely not be too influential.

A similar view was conveyed by lawyers Bill Morgan and Fred Rispoli. They predict the final verdict regarding the penalty will come out at the end of July or early August. Morgan also denied speculation of a settlement linked to the upcoming SEC meeting on institutions and the completion of the administrative process.

Despite speculation, the price of XRP shows a positive trend. The increase in XRP prices was accompanied by an increase in trading volume by 42%. Technical analysis shows XRP is currently above the 50-day and 200-day moving average (SMA), indicating a bullish trend. Analysts estimate the potential price increase of XRP to 0.75 US dollars (Rp. 12,000) if it manages to penetrate resistance of 0.65 US dollars (Rp. 10,400).