Ripple is gearing up to address the SEC’s penalty request by April 22, a move that could have a significant impact on the price of XRP.
Recent developments have seen charges against Ripple executives dismissed, leading to speculation about the potential consequences of the legal outcomes on the market value of XRP.
XRP experienced a slight dip of 0.14%, closing at $0.4973. However, Ripple’s Chief Legal Officer, Stuart Alderoty, quickly dismissed rumors of a possible settlement in the ongoing SEC vs. Ripple case.
The discussions surrounding a potential settlement between Ripple and the SEC were sparked by updates in a recent CNF post. The Southern District of New York (SDNY) Court’s proceedings calendar listed a “Final Pretrial Conference” for April 16, but without specific details about the courtroom, leading to widespread speculation about the dismissal of charges against Ripple executives.
In a CNF YouTube video, Stuart Alderoty clarified that Ripple will formally respond to the SEC’s penalty request by April 22. As the charges against Brad Garlinghouse and Chris Larsen have been dismissed, there are no trials or pretrial conferences scheduled. Investors are advised to stay vigilant for further developments in the SEC vs. Ripple case, as well as other SEC actions and geopolitical news from the Middle East.
In a recent tweet, I highlighted that Ripple will finalize its response to the SEC by April 22, and the SEC has until May 6 to provide a reply. With the charges against the executives now dropped, the path ahead seems less obstructed by legal hurdles.
Following this tweet, the Southern District of New York Proceedings Calendar clarified that a final pretrial conference between the SEC and Ripple was indicated for April 16. However, Stuart Alderoty clarified the next steps in the SEC vs. Ripple case, stating:
“There is no final pretrial conference because the SEC dismissed the charges against Brad Garlinghouse and Chris Larsen.”
Can this Propel XRP Price to $1?
Market analysis suggests a bearish trend for XRP, as it remains below key resistance levels on both daily and weekly charts. If it falls below $0.48, further losses may occur. However, breaking above this threshold could push the price towards $0.5739.
The 14-day Relative Strength Index (RSI) is nearing oversold territory, indicating possible volatility. As of now, according to Coin Market Cap, XRP is priced at $0.4977, showing a modest increase of 1.47% after a significant decline of 18.25% in the previous week.
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