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SEC files final response in solutions phase
In the ongoing legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), significant progress has been made with recent actions taken by the regulatory agency. The SEC advanced the case by filing its final response in the remedial phase of the case, marking a notable development in the legal procedures.
SEC Final Response and Anticipation of Public Release
The SEC’s final response in the remedial phase of the lawsuit was filed, along with supporting documents, although these documents are currently under seal and inaccessible to the public. However, anticipation is rising as public and redacted versions of these records will be released by Wednesday, May 8, 2024. Bill Morgan further reiterated that for those who wrongly claimed that the court’s decision on remedies would be made today, they should consider the time provided.
Experts have speculated about the timeline for the resolution of the XRP lawsuit, suggesting that Judge Torres final decision it could be issued later this year, possibly in September. Despite ongoing proceedings, the dispute between the US SEC and Ripple Labs is expected to continue, with the case currently in the resolutions phase until an imminent appeal or potential settlement.
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Impact of the lawsuit on XRP price and market sentiment
The SEC lawsuit had a noticeable impact on XRP price dynamics, as the cryptocurrency’s price recovery was impeded by the legal uncertainty surrounding the case. However, market sentiment remains optimistic, with the final decision in the Ripple Vs SEC case expected to serve as a significant catalyst for a potential recovery in the market. XRP Price.
Currently trading near $0.53, the price of XRP has shown resilience despite the legal turmoil, with indications that positive developments in the court case could boost prices to at least above $0.55. Additionally, there is massive buying activity from derivatives traders, with XRP futures OI jumping nearly 4% in 24 hours, currently valued at $430.5 million. This signals heightened activity among derivatives traders and suggests a bullish outlook for XRP in the futures market.
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