After More Than Three Years of Legal Battles, the XRP Global Community Is Highly Anticipating the Imminent Closer of the U.S. SEC vs Ripple Labs Case

The partial victory delivered through the landmark ruling by Judge Analisa Torres on July 13, 2023, did not fully quench the Ripple community, thus leading to the ongoing appeal to counter SEC's.

The case began in December 2020, when the SEC sued Ripple Labs for allegedly selling XRP, the digital asset developed by the fintech firm, to institutional investors without registering the sales with the regulator, as required by federal securities laws.

Specifically, the SEC claimed that Ripple had sold XRP in a manner that should have triggered registration with the SEC, and that several statements made by Ripple executives over email and social media should have been disclosed to investors.

After more than three years of legal battles, the XRP global community is highly anticipating the imminent closer of the U.S. SEC vs Ripple Labs case.

The partial victory delivered through the landmark ruling by Judge Analisa Torres on July 13 did not fully quench the Ripple community, thus leading to the ongoing appeal to counter SEC’s claim that XRP is a security.

Moreover, Ripple’s XRP sales to institutional investors were deemed to have violated securities laws, thus leading to the permanent injunction in the ruling.

According to two close sources with the ongoing case, the ‘case is in the process of wrapping up and could be over soon’.

As previously predicted, Ripple has been negotiating with the current SEC administration to drop the existing permanent injunction on XRP sales to institutional investors.

Moreover, the U.S. Congress is in the process of drafting and rolling out clear crypto regulations, which means Ripple was unfairly treated in the ruling that fined it $125 million.

“Accepting the Torres ruling as it stands would mean that Ripple is essentially agreeing to admit to wrongdoing — but now the SEC itself is seemingly unsure whether any wrongdoing occurred,” Terrett noted.

The recent announcement by President Donald Trump that XRP will be among the digital assets encompassing the country’s strategic crypto reserves rejuvenated the demand by institutional investors.

Additionally, the current SEC administration has dropped charges for several crypto firms that were persecuted under Biden’s administration.

As a result, the XRP price has confirmed a bullish breakout from a multi-year consolidation following the palpable pump in the past five months.

From a technical analysis standpoint, XRP price could be preparing for a major bullish breakout toward price discovery in the coming months.