Ripple Vs. SEC Update: SEC Files Final Response In Remedies Phase
In the ongoing legal battle between Ripple and the SEC, substantial headway has been achieved with the recent steps taken by the regulatory body. The SEC has moved the case forward by filing its concluding response in the remedies phase of the lawsuit, signifying a significant milestone in the legal process.
The SEC has submitted its final response in the remedies phase of the lawsuit, accompanied by supporting exhibits. However, these documents are presently sealed and not accessible to the public. While anticipation is mounting as redacted versions of these filings are scheduled to be released on Wednesday. Bill Morgan emphasized that those who incorrectly assumed the court would decide on remedies today should take note of the provided timeline.
Experts have offered speculation regarding the timeline for the resolution of the Ripple lawsuit, proposing that Judge Torres may issue her final ruling later this year, potentially in September.
Despite the ongoing proceedings, the conflict between the SEC and Ripple is anticipated to persist, with the case presently in the remedies phase until an impending appeal or potential settlement.
Meanwhile, market sentiment toward XRP remains optimistic, as investors anticipate that the ultimate verdict in the Ripple vs. SEC case will act as a significant catalyst for a potential upswing in XRP price.
Since the legal battle began, XRP has garnered a reputation for its stagnant or consistently sluggish performance, as the token has struggled to move forward from its average price of $0.5. XRP remained entrenched around this average for months, experiencing occasional peaks as well as brief ones.
Furthermore, investors are eagerly anticipating a surge in XRP value with the introduction of Ripple’s new stablecoin. Some expect XRP to reach at least $3, while many others are speculating that it could reach $5.
At this time of writing, XRP is trading at $0.53 showing a 0.53% increase in the last 24 hours.
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