Will Ripple’s New Year’s resolution stand in court against the SEC?

As the new year approaches, XRP investors are wondering what the future holds for the sixth-ranked cryptocurrency by market cap. One of the key factors that can affect its performance is the ongoing legal litigation between and the Securities and Exchange Commission (SEC).

Will ’s New Year’s resolution stand in court against the SEC?

As a reminder, the SEC has sued Labs, alleging that it is selling unregistered securities in the form of XRP tokens. The case has been pending for three years, with both parties making their final defenses and awaiting the verdict.

Many XRP investors hope that the new year will bring a solution to the case, despite the uncertainty on the final decision date. However, pro-XRP attorney John Deaton had predicted that the final decision could be made in April or May next year.

– Impact of SEC result on XRP

If the regulator ultimately wins the case, it could have serious ramifications for XRP and its investors, as well as the general cryptocurrency market. The agency could specifically fine Labs and require the company to register XRP as a .

As a result, such a decision would likely force XRP to be treated in the same way as traditional securities, which could limit its adoption and use.

On the other hand, if can successfully defend itself against the SEC’s claims, it could be a significant victory for the company and a bullish sentiment for XRP. However, it is important to note that while recorded small gains during the hearings, the outcome of the lawsuit remained uncertain.

At the same time, as reported by Finbold, United States attorney Jeremy Hogan had predicted that the case could go both ways. According to the lawyer, the president of the court can also make a surprise decision in the case.

XRP price analysis

At press time, XRP was trading at $0.34, posting daily losses of around 1.7% and the asset failed to break the critical $0.40 resistance level.

Will Ripple's New Year's resolution stand in court against the SEC?  - Picture : 1

XRP one-day price chart. Source: Finbold

and SEC updates

Notably, the case continues to receive new developments from the parties involved, as both parties await an update on the final decision. Specifically, according to a Finbold report, the court granted attorney Lewis Cohen’s request to join the lawsuit on behalf of crypto-centric investment firm Paradigm.

Additionally, the SEC continues to come under criticism after it passed a motion that sought to seal critical documents in the case. Critics of the regulator claim that the SEC failed to prevent events such as the collapse of the FTX crypto exchange while chasing established assets like .

Disclaimer: The content on this site should not be considered as investment advice. Investment is speculative. When investing, your capital is at risk.

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