The tension in the crypto markets is growing: Ripple and SEC are preparing for a crucial moment that could influence the entire sector, while XRP approaches the 3-dollar threshold.
According to data collected by CoinMarketCap and CoinGecko, this rally represents one of the most followed moments by investors globally, generating expectations on possible regulatory developments even in Italy.
Significant Rise of XRP: the Reasons Behind the Approach to $3
XRP has seen a marked increase, reaching a high near 3 dollars, with daily gains around +4.5%.
Financial operators explain this movement as a result of growing confidence that the legal dispute with the SEC could conclude by summer 2024.
It should be noted that the increase in trading volumes and a positive sentiment on the token reflect expectations of a more defined regulation and a likely rapid ruling.
- Daily growth around 4.5%
- Price near the 3 dollar threshold
- Trading volumes at the highest levels since 2021
Data source: CoinMarketCap, CoinGecko updated to July 2024
According to several legal experts and analysts, the resolution of the litigation seems close. Among them stands out the opinion of the analyst Bill Morgan, who points out that the Court of Appeals for the
Second Circuit has set a crucial date: August 7, 2024. On that date, an indicative judgment on the dispute is expected.
If the SEC decides to officially withdraw the appeal by that day, the case could quickly close with the final authorization of the district court.
This possibility is also confirmed in official communications from the SEC, which has announced a conditional settlement agreement with Ripple.
Despite the agreement, the SEC retains a crucial role and has not yet formally withdrawn the appeal. This step is essential for the definitive closure of the case. If the settlement agreement is validated by the court, the case will conclude.
However, some procedural issues remain that could delay the final ruling, although legal sources rule out prolonged delays, as reported in recent legal analyses published on Law360.
The conclusion of the legal case could trigger a strong bull for XRP.
Industry analysts note that an immediate increase in price and trading volumes could be comparable to that recorded during the historical peak of cryptocurrencies in 2021, where XRP had gained over 200% in a few months.
Regulatory effects globally and in Italy
The Ripple-SEC verdict could set a significant precedent for the regulation of cryptocurrencies in the United States, Europe, and Italy.
The outcome of the trial could accelerate the adoption of clearer and more favorable regulations in the crypto sector, even in the Italian market, where operators and institutions have long been awaiting precise guidelines.
Many Italian professionals believe that closing the case would help stimulate innovation and promote a more streamlined and functional regulatory framework, as highlighted in the recent report by Consob on cryptocurrencies.
The dispute began in December 2020, when the SEC initiated a lawsuit against Ripple, accused of conducting an irregular sale of securities valued at approximately 1.3 billion dollars.
Since then, several key moments have followed between hearings and rulings.
- December 2020: the SEC initiates proceedings against Ripple
- April 2023: Judge Torres rules that retail sales of XRP do not constitute securities
- July 2024: the final judgment is expected with a possible sentence and agreement on the release of funds in escrow
Sources and updates on sec.gov and ripple.com.
At the center of the negotiations is a proposed agreement that involves the release of approximately 75 million dollars in escrow: 50 million would represent a fine in favor of the SEC, while the remaining part would return to Ripple.
The acceptance of this agreement could put an end to all disputes, eliminating the risk of further claims and paving the way for a new phase of compliance for the entire sector.
The court should make a final decision by summer 2024, as reported by legal sources cited by TheStreet and Crypto Briefing.
Updated FAQ: Is the Ripple-SEC lawsuit really over?
As of today, the case between Ripple and SEC has not yet formally concluded. The expected date for an indicative judgment is August 7, 2024, a moment that could mark the approval for closure, especially if the SEC decides to withdraw the appeal.
It’s not just about Ripple and XRP: the decision of the American court could represent a benchmark for the future regulation of digital assets, not only in the USA but also in Europe and Italy.
A potential positive outcome would encourage greater investments, broader involvement of institutional operators, and increased transparency in the sector.
The Ripple-SEC case thus emerges as a legal milestone for the global cryptocurrency industry, as highlighted by official reports from the IMF.
The countdown for the verdict has begun: investors and operators are closely following the court’s ruling, which could represent a fundamental milestone for the crypto world.
In addition to the price trend of XRP, the regulatory implications in Italy and Europe will also be subject to evaluation.
The definitive conclusion could open a new phase for investments, rules, and technological innovations in the digital financial sector.
