Ripple vs. SEC: The wait continues! The much-anticipated closed-door meeting has been rescheduled to August 7. Does this delay bring a settlement closer or further away? However, the XRP community is eagerly awaiting Judge Analisa Torres’ final ruling on Ripple’s SEC lawsuit; some XRP community members believe that the ruling may not have a significant impact on XRP’s price.
Despite high hopes on social media for an XRP breakout, one XRP community member has denied claims that the Ripple vs. SEC case has driven up XRP prices.
Potential punishment may outweigh positive emotions
Rachelle Renee, an active member of the XRP community, noted that the ruling is expected to resolve Ripple’s penalties for violating federal securities laws, which could amount to a fine of about $2 billion. Ripple has argued for a significant reduction in the fine, but the imposition of a large fine could overshadow any positive effects that could come from the conclusion of the lawsuit.
Regulation has been clarified
Renee further emphasized that a major ruling last year clarified that XRP is not a security, which has provided institutions with the necessary regulatory certainty. Although this decision initially caused XRP's price to rise, the rise was short-lived. XRP's legal status is already clear, and further regulatory outcomes may not have a significant impact on the value of the asset.
Institutional Adoption and Ripple’s Regulatory Status
Finally, she noted that despite the ongoing litigation, Ripple has gained enough regulatory clarity to seek institutional cooperation and adoption. While some community members hope that adoption will increase after the litigation, Renee said that Ripple's existing regulatory position already supports its business plan. Therefore, it is unlikely that a significant change in adoption or price will be directly related to the resolution of the litigation.
Get ready for August!
In July, XRP gained 50%, all thanks to the closed-door meeting and resolution rumors. The XRP community is waiting for the end of this turmoil. If the bullish momentum continues, the XRP price may rise above $0.65. If August is lucky, the coin may try to reach the yearly high of $0.72. XRP has fallen 5.94% in August alone and is currently trading at $0.5732. Moreover, the Relative Strength Index (RSI) is 66.94, indicating a strong bullish momentum for the coin.
In summary, while the final ruling may bring some short-term price fluctuations, analysts like Renee believe that XRP is unlikely to experience a dramatic bull run simply because of the settlement of the lawsuit. The market reaction may be muted, reflecting the complexity of the regulatory impact and the existing adoption framework.
