The recent lack of updates on the SEC vs Ripple case has been linked to a slight drop in the price of XRP. However, the outcome of this case and other legal battles involving the SEC, such as the one with Coinbase, could have a significant impact on the future price of XRP.
XRP is currently trading at $0.52, slipping below $0.53 after a 0.67% decline in the last 24 hours and a 3.5% drop in the last 30 days. Analysts attribute this stagnant movement to the absence of new developments in the SEC vs Ripple case. Investors are eagerly awaiting the court ruling on Ripple’s Motion to Seal, which will determine the penalty for violating US securities laws.
The SEC initially proposed a nearly $2 billion penalty and a ban on XRP sales to institutional investors, but Ripple strongly contested this, arguing that the penalty should be closer to $10 million. Ripple believes that the SEC’s request for such high penalties is unjustified, given the lack of allegations of recklessness or fraud in the