- New addresses, as well as the price of XRP and its network have surged to their highest levels in recent months.
- Recent data and comments from Ripple’s CEO suggest that the SEC resolution will have a significant impact on XRP market performance. Analysts predict further price increases.
Our recent article predicted that the upcoming coverageBy the 25th of July, it appears that the SEC will settle its case with Ripple. This settlement is likely to cover topics like the initiation and settlement administrative proceedings, litigation issues, and any other matters related to enforcement.
In a recent interview with Bloomberg, Ripple’s CEO Brad Garlinghouse stated that he was looking forward to resolving outstanding legal issues “very soon.”
Reflections as we reach the first anniversary of the Summary Judgment ruling by Judge Torres in the SEC v Ripple litigation.
First and foremost – it was a watershed moment to find as a matter of law, a token – in this case, XRP – in and of itself, is not a security.
This… https://t.co/0gh0EYhFZO
— Stuart Alderoty (@s_alderoty) July 12, 2024
Stuart Alderoty also shared in a recent tweet his thoughts on the approaching one-year anniversary for Judge Torres’ Summary Judgment in the SEC/Ripple case.
It was a watershed moment to find as a matter of law, a token – in this case, XRP – in and of itself, is not a security.
He stressed that Ripple, and the entire crypto industry would be better off if they did not get sucked into the SEC lawsuits.
Can the settlement boost the XRP rate?
Recent remarks from Ripple’s CEO Brad Garlinghouse led to speculation that Ripple’s legal fight with the SEC, which has lasted for years, may finally be coming to an end. This would explain the rise in XRP price and increase network activity.
Sentiment sent out a tweet highlighting the fact that on the XRP Ledger, a large number of users are creating new addresses and interacting across the network. These are their highest levels ever since March.
XRP Ledger has seen a significant amount of new addresses being created as well as the total number of addresses interacting with each other on the network. These are their highest levels ever since March. pic.twitter.com/AIeWzwannc
— Santiment (@santimentfeed) July 18, 2024
According to CoinMarketCap’s latest update, Ripple is currently trading for at $0.5957The number of people who are using the internet has increased dramatically. 0.55% Yesterday and today 12.64% In the last week. Below is a chart showing XRP price.
The CNF update is a good match for this one. suggestion The impending settlement of XRP has boosted its performance and broken down many levels of local resistance, causing analysts to predict additional upward movement Based on technical analyses.
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