- Ripple is once again in the spotlight as its legal battle with the SEC nears its conclusion.
- XRP is entering a pressure zone in a long-term pattern, indicating the possibility of a breakout or breakdown.
The Ripple (XRP) vs. SEC lawsuit may be coming to an end soon. According to reports, Judge Analisa Torres is deliberating a final ruling that would end the lawsuit after nearly four years.
Ripple has become a sandbag for the SEC since the case began in December 2020, with the cryptocurrency company accused of violating U.S. securities laws by issuing XRP.
The cryptocurrency market is watching the case closely as it could set the direction for regulation and legal scope in the industry.
New information suggests that Judge Torres is considering a final ruling in the long legal battle, meaning the market may finally have clarity on the U.S. regulatory stance on Ripple and the rest of the crypto market.
Ripple had a few victories last year, most notably when XRP was not classified as a security. While this victory was seen as a partial victory, the company did not completely escape it.
The final ruling will determine the final penalty for the company. The SEC may appeal and expand the case.
The official timeline has not been released, but a ruling could be made within the next four weeks. The final ruling is likely to be made soon. The SEC could soon be reorganized based on the results of the U.S. presidential election.
A Bright Future for Ripple and XRP?
The case has slowed down Ripple’s expansion of services such as ODL. The ruling could pave the way for the company to attract more partners for its pursuit.
Many exchanges have delisted XRP due to legal disputes. If a favorable ruling is reached, XRP may be listed again. This will allow XRP to gain more liquidity.
The final verdict is expected to have a significant impact on the performance of XRP, which is trading in a long-term wedge pattern.
It is currently in a squeeze zone, meaning a breakout is imminent. At the time of writing, XRP was trading at $0.61.
Source: TradingView
Read our Ripple(XRP) Price Prediction 2024-25
The previous partial victory news in June 2023 triggered a 100% rally. The conclusion of the legal battle could trigger more volatility. Currently, XRP is experiencing some resistance at current price levels after meeting a falling resistance line.
This means that a bounce is likely in the coming days. A breakout of the triangle pattern could also be on the cards.