The legal battle between Ripple and the SEC continues to be a focal point in the cryptocurrency industry. Ripple has expressed unwavering optimism about the outcome of the lawsuit, particularly regarding the remedies phase. The company maintains that the core ruling, declaring XRP a non-security, will remain intact.
A recent victory for Ripple in a class-action lawsuit further bolstered its position. While the company faces an individual state law claim, it’s deemed immaterial to the overall case.
Speculation around a potential settlement between Ripple and the SEC has intensified. While some experts dismiss this possibility, others anticipate a resolution soon. The approaching US elections are expected to significantly impact the crypto industry, with Ripple actively engaging in political efforts to shape a favorable regulatory landscape.
Beyond the legal front, Ripple’s Q2 report highlighted global regulatory advancements. The company praised the UAE’s clear stance on stablecoins and Europe’s progress with MiCA. Ripple also disclosed its XRP holdings, emphasizing the majority of XRP is held in escrow.
Despite Ripple’s confidence, XRP’s price has dipped following a recent unlock of 500 million XRP. This event, coupled with ongoing legal uncertainty, has contributed to market volatility.
Also Read: XRP Bullish Breakout Imminent? Price Surges X% After Testing $0.60
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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