Pro-crypto attorney Jeremy Hogan believes that the legal battle between Ripple and the SEC might conclude before an XRP ETF is approved—a sentiment that resonates in the current market atmosphere.
Ripple and SEC Legal Disputes
The legal battle against Ripple began in December 2020, when the SEC accused the company of conducting an unregistered securities offering. A pivotal moment came in July 2023, when Judge Analisa Torres ruled that Ripple did not necessarily offer XRP to investors as securities. Recently, Ripple agreed to a $125 million civil penalty, a significant reduction from the SEC's initial $2 billion demand. Attorney Jeremy Hogan predicts that a resolution may occur before XRP ETF approval.
XRP ETF Prospects
Several firms, including Grayscale and CoinShares, have filed for ETF approval. Experts suggest that the ongoing legal uncertainty may impact the approval timeline. According to analyst Eric Balchunas, the probability of approving an XRP ETF before the end of 2025 stands at 65%.
Current XRP Price Movements
XRP shows positive price momentum, supported by the $2.40 level. However, resistance at $2.77 may limit further growth. The RSI indicates a balanced market, while the MACD implies weak bullish momentum.
Current developments surrounding Ripple significantly influence market sentiment regarding XRP. Despite challenges, traders remain optimistic about both the resolution of the court case and the potential approval of the XRP ETF.
