Ripple May Pass SEC Hassle Soon and Catch Up with the Market
Ripple (XRP) has shown a modest increase of 0.2% this week, reaching $0.6248, which contrasts with Bitcoin's (BTC) decline of 5.0% to $64,895 per coin. Notably, XRP exhibited stronger performance on Thursday, rising by 5.5% to $0.6545, driven by anticipations surrounding the resolution of the legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC).
Investors are eagerly awaiting the SEC's remedies-related opening brief, scheduled for March 22, which is expected to provide clarity on the legal proceedings. The imminent conclusion of the trial could potentially remove uncertainties surrounding Ripple's regulatory status, paving the way for the altcoin to align with the broader crypto market.
Ripple must respond to the SEC's claims by April 22, and if the claims are subsequently dismissed, XRP may experience a surge in market prominence. However, there are lingering rumors regarding Ripple's alleged undisclosed sales of the token, which could dampen the positive sentiment. Nevertheless, Ripple's Chief Technology Officer, David Schwartz, has recently refuted these claims, further bolstering confidence in the token and contributing to its upward momentum.
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