Is Ripple (XRP) Winning Or Losing SEC Case?

Whether or not Ripple (XRP) wins or loses the SEC case could potentially decide the fate of an entire class of cryptocurrencies.
By Anvesh Reddy
US SEC Submits Appeal Brief To Challenge Ripple's XRP Sales Ruling

With the Ripple Vs SEC case finally moving towards a logical conclusion, trading activity is just starting to heat up. Whether or not Ripple wins or loses the SEC case could decide the fate of a class of cryptocurrencies. There would always be a scope for more court cases around regulating cryptocurrencies. But Ripple’s longstanding battle with the SEC could turn out to be among the most important events in crypto history.

Advertisement
Advertisement

Majority Thinks Ripple Wins SEC Case?

Most importantly, long time hodlers of XRP have been hoping for a Ripple’s win in the case from a long time. Looking at the current price movement of XRP, it appears that more hodlers are optimistic about Ripple’s victory than those thinking otherwise. Over the past one week, XRP price surged by as much as 10%, a sign of high market optimism. This optimism is in sharp contrast to most other cryptocurrencies, which suffered huge losses this week.

As of writing, XRP price stands at $0.3943, up 4.84% in the last 24 hours, according to price tracking platform CoinMarketCap. Ripple (XRP) is ranked 7 among cryptocurrencies based on total market capitalization. XRP’s daily trading volume has also increased significantly in the last few days. From the trading volume of $1.33 billion on September 16, XRP is now clocking over $2.03 billion. If Ripple does goes on to win the SEC case, the victory could potentially push XRP to a new all time high.

David Gokhshtein, host of a cryptocurrency related podcast, felt that the market is betting on Ripple’s win.

“$XRP moving again. People must feel like the case is about to end in Ripple’s favor.”

Advertisement
Advertisement

The Last Phase

The SEC vs Ripple lawsuit is possibly in its last phase with the case moving to the summary judgement proceedings. The attorneys said that the parties have submitted their motions regarding the process. Ripple, along with other defendants, have filed their motion for the summary judgement ‘under the seal’. There is also a possibility of the Securities and Exchange Commission opting for a settlement in the case.

Advertisement
Anvesh Reddy
Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.