The XRP case has gained renewed attention with Ripple and SEC's joint filing to conclude a prolonged legal battle. Attorney John Deaton has expressed optimism about the chances of approval by Judge Analisa Torres.
Motion to End Legal Dispute
Ripple and SEC have filed a joint motion to end the prolonged legal battle, highlighting that the agreement would help avoid further appeals and resolve the case that has lasted over four years. Experts believe this practice could protect court resources and assist in returning $75 million back to Ripple.
Lawyers' Feedback on SEC Actions
John Deaton commented on the SEC's actions, referring to them as "aggressive," and expressed hope that the agency would assume responsibility for past punitive measures against the crypto industry. He also mentioned other instances where SEC behavior had been criticized, including the Debt Box case.
XRP Market Outlook
The price of XRP remains in a narrow trading range, close to critical support levels. Analysts note technical indicators that confirm consolidation. There is a possibility of further declines below $2.00, however, rebounds above $2.50 are also possible. The relative strength index points to a slight bearish trend.
The dispute between Ripple and SEC remains a pivotal aspect of cryptocurrency regulation. The emergence of a joint motion raises hopes for a quicker resolution and alleviation of legal pressures on XRP.
