Ripple's extended legal battle with the SEC continues to impact XRP, with speculation surrounding a potential settlement growing.
Current Situation with XRP
XRP is currently retesting the 20-day EMA at the $2.34 level. If bears prevail, the price could fall below the $2.18 support level and reach $1.90.
Market Expectations
The deadline for Ripple's reply brief in the SEC’s appeal process is set for April 16. There are whispers that the regulatory body might consider withdrawing its case. Crypto commentator Andrew Parish hinted at an imminent resolution, citing insiders expecting a reduced fine and reclassification of XRP to commodity.
Potential Impacts on XRP
Lawyer Bill Morgan warns about ongoing uncertainty surrounding the Ripple vs. SEC case, which might harm XRP.
The outcome of the Ripple vs. SEC case could significantly impact not only XRP but the broader cryptocurrency market. All eyes remain on the forthcoming developments and final rulings.
