Category: Forex News

XRP News Today: SEC v Ripple Lawsuit Settlement Prospects and Forecast

If the OIG finds the SEC acted inappropriately, the SEC may settle the Ripple case. A settlement would also end SEC plans to appeal the Programmatic Sales of XRP ruling.

In July 2023, Judge Torres ruled that programmatic sales of XRP do not satisfy the third prong of the Howey Test. XRP surged to a 2023 high of $0.9327 in response to the ruling. However, speculation of SEC plans to appeal against the Programmatic Sales ruling sent XRP to sub-$0.50.

XRP would likely react positively to a settlement.

While investors await findings from the OIG investigation, a court ruling in the SEC v Coinbase (COIN) case could also be pivotal.

SEC v Coinbase: Motion to Dismiss Ruling Pending

In August 2023, Coinbase filed a Motion to Dismiss (MTD) all SEC charges against Coinbase. Coinbase argued the SEC lacked the statutory authority to regulate crypto exchanges.

Judge Katherine Failla heard oral arguments in January 2024. Legal experts opined that Coinbase offered a better definition of an investment contract. Almost three months have passed since the court hearing, suggesting a ruling is imminent.

Amicus Curiae attorney and candidate for the US Senate in Massachusetts, John E Deaton, shared his views on the MTD. Deaton believes the SEC would settle the case against Ripple if the Court grants the Coinbase MTD.

A settlement could have wide-reaching implications. Significantly, a Coinbase victory and a settlement in the Ripple case could open the door to XRP-spot ETF applications. The SEC will unlikely approve XRP-spot ETF applications if there are plans to appeal the Programmatic Sales ruling.

XRP Price Action

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