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Do Ripple and SEC have the Assurance of Avoiding a Complete Trial?

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There has been a new development in the legal battle between the Securities and Exchange Commission and Ripple.

Judge Sarah Netburn took a crucial step as she ordered Ripple and SEC to pinpoint 3 suitable dates which will be agreeable to both parties for a possible settlement meeting.

While considering the court’s crammed-up schedule, Judge Netburn proposed that the meeting should be planned from 6 to 8 weeks in advance.

READ ALSO:Just In: United States SEC Accepts Application of Valkyrie Spot Bitcoin ETF

Quick Takes

  • The ruling by Judge Analisa Torres of the United States District Court had a sudden and huge impact on the crypto market. It caused an 80% increase in the XRP value by late noon on the same day of the judgment.
  • The court’s preliminary court decision issued by Judge Torres in the case between Ripple and SEC gave XRP a legal victory that made waves throughout the crypto industry. However, it only cleared Ripple of violating the law while establishing a yardstick for other cryptocurrency projects.
  • Although Ripple got a partial win in the section that is regarding public exchanges, the judge still ruled that indeed, the crypto exchange violated the federal securities rules by selling XRP directly to individuals.
  • As a result, the case is still complex and is likely to change its direction further.
  • That is why, Judge Netburn proposes an enticing settlement conference for both parties. She aims to bring both Ripple and SEC together so that they can reach an agreement amicably and resolve their issues which is the best way to avoid a blown-out trial.
  • Notably, the proposed settlement which Judge Netburn ordered may not result in an agreeable resolution especially, as SEC is displaying the possibility to maintain their position.
  • Moreover, Gary Gensler, the Securities and Exchange Commission’s Chair is hinting at a possible appeal.

What’s Happening In Crypto Today?

Right now, the price of Bitcoin has a slight decrease and is trading at $29,882.95 with a decline in market cap by 1.62% and an increase in trading volume by 39.43%.

On the side of Ethereum, it is presently trading at $1,894.89 which is a slight increase in value, with a decrease in market cap by 0.94% and an increase in trading volume by 25.39%.

  • Meanwhile, TRON TRX is currently trading at $0.07984 with an increase in market cap by 0.10% and an increase in the trading volume by 1.52%.
  • XRP price is at $0.7592 with an increase in market cap by 2.80% and a decline in volume by 23.70%.
  • Binance’s USD price at the moment is $0.9999 with a decline in market cap by 0.87% and an increase in trading volume by 0.66%.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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