SEC v. Ripple end game: Ripple aims for ultimate win against the regulator
- The Securities and Exchange Commission and Ripple Labs have jointly filed a proposal for speedy resolution of the lawsuit.
- The payment giant has battled the SEC over the closing stages of arguments on Hinman’s speech and expert testimony.
- Ripple CTO David Schwartz explained why XRP Ledger is better and more decentralized that Bitcoin and Ethereum.
Ripple and the SEC are both looking for a speedy close to the lawsuit that has dragged on since December 2020. The two parties made a proposal to ensure easy and timely access to their briefs.
Ripple and SEC seek approval for quick resolution
Ripple and the Securities and Exchange Commission wrote a letter to Hon. Analisa Torres, seeking the court’s approval to regulate summary judgment motions. These motions will be filed in the coming weeks.
Brad Garlinghouse, Chris Larsen and the SEC’s joint proposal with respect to sealing issues ahead of the court filing is a key step in the direction of a resolution. If the judge grants the request, both parties will have access to briefs and unseen documents. Both parties have agreed that redacts will be minimal and on schedule.
Ripple CTO David Schwartz recently stressed that XRP Ledger’s adoption has picked up pace in 2022. The project’s operational speed, attractive fees policy and scalability are the key benefits of the XRP Ledger.
Ripple’s recent foray in the metaverse is another driving factor for the firm. Ripple recently struck a partnership with a San-Francisco based design agency ‘btrax Inc’. Ripple is the design agency’s strategic partner. The services include Web3 Research and Report, a Web3 Bootcamp, and a Web3 Design Service. The partnership with Ripple is a “testament to the robustness of the XRPL to support the acceleration of Web3 projects in the global marketplace”.
Analysts predict XRP price rally to $0.46
Michael Grullon, a leading crypto analyst has set a bullish target of $0.46 for XRP price. Perez has identified an ascending triangle in the XRP price chart and predicted a rally to $0.43. In December 2022, XRP price could hit its target of $0.46 with consistent gains. Analysts therefore retain a bullish outlook on XRP ahead of a decision in the SEC v. Ripple case.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
