Welcome to Extreme Investor Network, where we bring you the latest insights and analysis on all things related to the stock market, trading, Wall Street, and more. Today, we’re diving into the world of Ripple, with a focus on recent developments in the ongoing legal battle between Ripple and the SEC.
In April 2024, Ripple filed its remedies-related opposition brief, pushing back against the SEC’s allegations and arguing that their post-complaint activities were compliant with US securities laws. The brief also included a proposed $10 million penalty, highlighting that post-complaint XRP sales were made to accredited investors and through On-Demand Liquidity agreements, which are exempt from securities laws.
While Ripple makes its case in court, experts have weighed in on the possibility of a settlement. Former SEC lawyer Marc Fagel tempered expectations, noting the frequent discussions between the two parties but cautioning against premature optimism. Pro-crypto lawyer Fred Rispoli predicted a court verdict by July 31, but Judge Torres could delay proceedings if settlement talks are ongoing.
Meanwhile, Ripple CEO Brad Garlinghouse has remained tight-lipped on the topic of settlement discussions with the SEC, adding to the air of uncertainty surrounding the case. The outcome of these legal proceedings could have a significant impact on Ripple and the cryptocurrency market as a whole.
Looking ahead, the question on everyone’s mind is whether XRP can retake the $1.00 handle. After rallying to a high of $0.9327 in July 2023 following a favorable ruling, XRP faced a sharp drop to $0.4367 amid concerns of a potential appeal from the SEC. However, a settlement could reignite demand for XRP and pave the way for a return to the coveted $1.00 mark.
Stay tuned to Extreme Investor Network for the latest updates on Ripple, the SEC case, and all things related to the stock market. Our expert analysis and unique insights will keep you informed and ahead of the curve in the fast-paced world of investing and trading.