NEW YORK, United States – Things are looking up for Ripple Labs as concrete deadlines are being drawn regarding the lawsuit that the Securities and Exchange Commission made last December 2020. Ripple had the upper hand last March 11th, but both Ripple and the SEC reached an agreement to have the case extended in terms of providing the final arguments. The expert challenges and summary judgment are due in August while closing briefs are set to happen in December of this year. With these dates in place, it is assumed that the case will reach its resolution by March of next year.
If you have been watching this case or have been owning XRP tokens yourself, you might relate to the back-and-forth swing of this crypto coin as it steers the “lawsuit ocean.” Ripple peaked in January, trading at $0.90, but things started to go south since then. It is now valued at around $0.68, which tends to go lower in the upcoming days as technical analysts forecast.
Still, XRP holders are not losing hope, especially now that they start to see the light at the end of the tunnel. This ongoing battle with the SEC does not only benefit Ripple Labs, but it might also serve as a “voice” for other cryptocurrencies when being attacked by the SEC, especially when the SEC treats both Ethereum and Bitcoin as official securities but not the other coins such as XRP.
Experts believe that with the case nearing the end, it will do Ripple some good, especially in pulling the value up again and keeping momentum. Investors will be able to draw their plans on how to handle Ripple coins next year, which could also allow establishments and institutions to start using XRP in various payment transactions on a much larger scale.