Ripple vs SEC Enters Critical 14Day Countdown as XRP Case Intensifies

The SEC and Ripple have a new deadline of July 8 to submit updated motions to the court regarding the sealing of certain portions of their briefs in the XRP lawsuit.
Legal experts believe that the SEC is now eager for a swift resolution to the case, as the tide has turned against the agency. A victory for Ripple could propel XRP to unprecedented heights.
After three years of little activity, the Ripple vs. SEC lawsuit has intensified over the past year. Both parties are required to submit their motions by July 8, marking the next significant date in the legal battle.
The latest front in the dispute between Ripple and the securities regulator revolves around the sealing of sensitive information to safeguard its business interests. Ripple contends that the disclosure of certain trade secrets in court documents could harm its partnerships and competitiveness if leaked to the public. As previously reported by Crypto News Flash, the SEC has opposed this move. Consequently, both parties must now revise and resubmit their motions regarding the sealing of their briefs within 14 days.
The SEC faces the prospect of another defeat, marking a series of losses against Ripple in court. When the lawsuit was initially filed against the California company, many anticipated a swift resolution and a substantial settlement, as was the case with numerous other crypto firms. However, Ripple has proven to be a formidable opponent. Nearly four years later, it appears increasingly likely that Ripple will emerge triumphant. The SEC has reportedly resigned itself to seeking only a financial penalty from Ripple, with its initial demand of $2 billion diminishing to just over a hundred million. Even this amount may be reduced to around $10 million.
The XRP lawsuit has loomed over the cryptocurrency for years. Despite striking numerous new partnerships and witnessing increased adoption, the price of XRP remains suppressed, likely due to the ongoing legal battle. With the end of the lawsuit in sight, XRP investors are growing optimistic. Notable figures in the industry, such as Bittrue exchange and Emerge VC, have expressed their support for the token, citing its potential to revolutionize cross-border payments. XRP is currently trading at $0.4799, down 3% in the past week, and commands a market cap of $26.5 billion.