After four years of legal conflict, the Ripple vs. SEC lawsuit is nearing closure. The SEC’s official statement about the matter has not been released, which creates ongoing doubt about the situation. Ripple’s CEO and Coinbase CLO have spoken about the matter, but XRP holders must receive formal approval from regulators.
The crypto sector, financial institutions, and regulatory authorities have all paid close attention to this legal dispute. Ripple consented to end its cross-appeal after the SEC decided to drop its appeal, but essential final steps still need to be completed. SEC officials indicate they will wait until August 7 to release their official public declaration while the market anticipates their statement.
After the lawsuit received its latest legal update, XRP’s price declined more than 4%. Its current trading value stands at $2.2452 because it could not maintain past resistances. Market signals show that negative expectations are increasing, which creates immediate challenges for XRP.
Ripple Settlement Progresses Without SEC Statement
The SEC officially ended its court appeal without requiring terms, and Ripple stopped contesting the appeal as part of this agreement. Following a deal with the SEC, Ripple will pay back $50 million from the $125 million penalty. Ripple will obtain its remaining funds from an interest-bearing escrow account.
This settlement represents a major advancement, but the SEC must still issue a formal declaration. According to current reports, the SEC will continue to delay any public statements about XRP until August 7. Several legal experts doubt the validity of these documents because they come from outdated information that is seen as inaccurate.
The settlement implementation proceeded even though the SEC never confirmed it. The last part of this agreement requires legal permission to remove the court-ordered injunction that the SEC initially sought. The SEC commissioners must vote first and then submit a request to Judge Analisa Torres for final approval of the removal of the injunction.
XRP Price Falls Below Short-Term Support Levels
XRP price sharply declined 4.2% in the latest daily session, ending at $2.2452. The token could not hold positions above its 20-day and 50-day exponential moving averages, which currently stand at $2.3681 and $2.4158, respectively. The market decline suggests growing opposition to lower prices, which might sustain bearish market trends.
According to technical indicators, the market’s current condition is becoming weaker. The Relative Strength Index stands at 43.94 points, which remains beneath its moving average of 49.60. The MACD line remains beneath the signal line to show bearish trends supported by the appearance of negative histogram data.
Despite this downturn, XRP remains above its 100-day and 200-day EMAs, at $2.3168 and $1.9367, respectively. The market levels appear to support prolonged stability when overall market stability returns. If the price falls below $2.20, further market selling may attract.
Court Decision Pending on Lifting Injunction
The SEC needs to finish the case process through its procedural measures. Agency commissioners need to vote before the court receives their request to lift previous injunctions. The legal closure of the case becomes possible only through the successful vote of the SEC commissioners.
Judge Torres requires approval to accept an SEC petition to lift the injunction. The case officially exists, but additional legal proceedings seem unlikely because the court has not yet received or approved the SEC request to dissolve the earlier injunction. According to legal analysts, the SEC’s internal process could determine when the court receives the request to end the injunction.
The extended period before finalizing formal procedures results in investor and observer uncertainty. Ripple officially confirmed the settlement, yet the SEC remains silent about its stance. This ongoing lack of clarity influences market sentiment and XRP price movements.
FAQs
What is the current status of the Ripple vs. SEC lawsuit?
The lawsuit has been settled, but final court procedures and a formal SEC announcement are still pending.
Why has the SEC not made an official statement?
Reports suggest the SEC may delay its public comment until August 7, but this remains unconfirmed.
What are the key financial terms of the settlement?
Ripple will pay $50 million from a $125 million fine, while the rest will be returned from an escrow account.
How has XRP’s price reacted to the latest news?
XRP dropped over 4%, falling below key short-term support levels, reflecting growing bearish sentiment.
What needs to happen for the case to close completely?
The SEC must vote to lift the injunction and submit a request to Judge Torres for final approval.
Glossary
SEC (Securities and Exchange Commission): U.S. regulatory body overseeing securities markets and enforcing federal laws.
Ripple: A blockchain-based digital payment network and protocol that uses the native token XRP.
XRP: The cryptocurrency token used by the Ripple network for transactions and cross-border payments.
MACD (Moving Average Convergence Divergence): A technical analysis tool used to identify changes in momentum.
RSI (Relative Strength Index): A momentum oscillator used to assess the strength or weakness of a market.
EMA (Exponential Moving Average): A moving average that gives more weight to recent price data.
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