- 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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Celebrity meme coins controversy continues amid Pump.fun revenue dominance
Pump.fun outperformed the Ethereum blockchain on Tuesday after raking in $1.99 million. Following this achievement, a meme coin based on actress Sydney Sweeney was the subject of controversy after its developers dumped their bags on investors.
PEPE's on-chain metrics indicate potential rally after weeks of silence
PEPE has struggled to see any significant price move after reaching an all-time high in May. Increased adoption rate and low MVRV ratio indicate a bullish run may be on the horizon. A single PEPE outflow from Binance worth $14.7 million gives credence to signs of bullish expectation.
Ethereum has failed to overcome key resistance despite bullish sentiment surrounding ETH ETF
Ethereum (ETH) is down more than 1.4% on Tuesday following another ETH sale from the Ethereum Foundation. Meanwhile, crypto exchange Gemini's recent report reveals that ETH ETF could see about $5 billion in net inflows within six months of launch.
Crypto community blasts Polkadot following report of treasury spending
Polkadot reports $87 million of treasury spending during H1. Crypto community members expressed harsh feelings toward the DOT team's high spending. DOT is up more than 2% in the past 24 hours but risks correction following the report.
Bitcoin: BTC price correction could end in July, according to seasonal data
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.