- Ripple will respond by 22 April to SEC’s demand for a fine, and this could have a significant impact on the XRP rate.
- Recently, Ripple executives were cleared of all charges. This has led to speculation regarding the possible impact that the outcome of legal proceedings will have on XRP market value.
Recent data shows that the cryptocurrency XRP experienced a small drop of 0.14%. This led to XRP closing at $0.4973. As speculation about a settlement of the ongoing SEC vs. Ripple caseStuart Alderoty (Ripple’s Chief legal officer) quickly dispelled these rumors.
Settlement Speculations and Legal Proceedings
You can also read about our Recent Posts. discussions about a potential settlement between Ripple and the SEC CNF posted an update on the subject. A list of the court’s proceedings in Southern District of New York Court had been posted. “Final Pretrial Conference” The court date for the April 16 hearing was not specified, leading to speculation that charges could be dismissed against Ripple executives.
Stuart Alderoty clarified in a CNF video that Ripple would respond to SEC’s request for a penalty by the 22nd of April. As the charges brought against Brad Garlinghouse, Chris Larsen and their company were dropped, there are no scheduled trials or pretrial conference. Investors should be on the lookout for any further developments regarding the SEC Ripple Case, other SEC action and news about geopolitics in the Middle East.
I recently tweeted that Ripple will finalize their response to SEC before April 22. SEC will have until the 6th of May to respond. Now that all charges have been dropped against the executives, it appears the road to recovery is less fraught.
🚨 Breaking waves: #Ripple By April 22, a response will be in place to SEC’s penal play! The SEC will have until the 6th of May to formulate a response. A pretrial conference is not possible because the charges filed against corporate executives have been thrown into the sea. The legal seas are ahead! ⚖️📅 #XRP pic.twitter.com/cDSxesK39u
— Marcel Knobloch aka Collin Brown (@CollinBrownXRP) April 17, 2024
A clarification was provided by the Southern District of New York Proceedings Calendar following this tweet. The calendar had previously indicated that a final pre-trial conference would be held between Ripple and the SEC on April 16th. Stuart Alderoty, however, clarified the misunderstandings. next Steps in the SEC Ripple Case, Stating:
You may be confused by the confusion that you see on next The SEC and Ripple dispute is moving forward. To clarify – Ripple will file its response to the SEC’s request for penalties by April 22 and the SEC has until May 6 to reply. No final pretrial is scheduled because Brad Garlinghouse’s and Chris Larsen were cleared by the SEC.
Does it have the potential to push XRP price up to $1?
Market analysis suggests a negative outlook. trend for XRPThe price of remains well below the key resistance levels both on daily and weekly charts. If the price falls below $0.48, it could cause further losses. However, if this level is broken above $0.5739 then we could see the price rise towards $0.5739.
The Relative Strength Indicator (RSI), 14 day, is nearing oversold territory. hinting at possible volatility. According to Coin Market Cap at the moment, XRP’s price is currently set at $0.4977This is a slight increase in 1.47% After a major 18.25% There was a decline in sales compared to the prior week.
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Source: www.crypto-news-flash.com