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Crypto Market News: The U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple may be one of earliest major legal battles in crypto market, but the recent lawsuits against Coinbase and Binance showed the regulatory agency is in for a long drawn fight with many companies. It is generally perceived that the Ripple XRP lawsuit gains all the more significance as the judgement could act as a precedence for the ongoing crypto cases. Yet, experts warn that the SEC could argue saying the Ripple lawsuit was a one-off situation and that it has nothing to do with the wider crypto market.
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Meanwhile, the XRP holders await the Summary Judgement from Judge Analisa Torres, more than 100 days after she delivered the Daubert motion ruling. Yet, the XRP price is not swayed a lot by the long wait for the final judgement, as the token still holds the sixth position among top cryptocurrencies with a market cap of $25 billion.
How Ripple Can Ensure XRP Growth If Lawsuit Goes In SEC Favor
While the industry expects that the SEC lawsuit judgement goes in Ripple’s favor, the company is well placed to handle defeat just in case. Ripple’s market engagement in the Central Bank Digital Currency (CBDC) and payments space could make it a potentially strong market participant to compete for dominance in the altcoin space. The company’s strategic alignment could also pay dividends in terms of regional presence as well. According to Twitter account DS, the company’s presence in Europe and Latin America could mean a big deal even if it loses the lawsuit.
“Ripple is already hedging against a potential no-win in SEC vs Ripple by setting a strong foot fold in both Europe and Latin America.”
The Ripple management expects that the lawsuit judgement could be delivered by the last quarter of 2023.
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