CANADA – The XRP and the Securities and Exchange Commission’s lawsuit case is not yet over. However, you might have seen some small victories earned by the Ripple Labs and its executives. Recently, the SEC has requested for Judge Sarah Netburn to dismiss the use of William Hinman’s statement in the hearing. Judge Netburn turned this request down, not once but twice. This piece of evidence appears to be substantial to the case, and it is what Ripple Labs is holding on to as well.
William Hinman was a former executive in the SEC. His controversial speech included saying that ETH is not a security, contrary to the SEC filed against Ripple Labs. Judge Netburn said that the speech is admissible in court. Even before this win, Ripple was also able to request to argue their case under “fair notice.” From how it looks, things are going Ripple’s way. However, the case is far from over, which means you cannot conclude yet if they will win or not.
Despite these small wins, XRP has not fared well for the past couple of months. What does it entail, then? Here are two possible reasons why Ripple is still swimming through the lows of the crypto market.
The whole cryptocurrency market has been down since 2022 started, which means that it is not just Ripple. Even Bitcoin has suffered a dip of as low as 4.4%. Ethereum also had its share of losses. Ripple is not immune to any of these crises.
Second, as mentioned earlier, the case is not yet over. No one knows if the price will spike if, theoretically speaking, Ripple will win the case. Just because things are going their way doesn’t mean it will be an absolute win.
May has been looking pretty good for XRP; you might want to always stay in the loop in this coin’s movement, even with the pending case.