Analysts believe Ripple could beat SEC lawsuit on one condition

  • Experts are weighing in on the possible closure of the payments giant's lawsuit with the SEC.
  • Ripple has filed a supplemental briefing, calling SEC's invoking the deliberative process privilege an error.
  • The SEC has failed to draw a connection between said documents and any specific decision-making process.
  • Analysts predict that the payment giant's win in the SEC vs. Ripple case could push XRP price to a new all-time high.

Ripple has filed a new briefing regarding the deliberative process privilege (DPP), the protection of information that supports the SEC's stance from third parties. Proponents believe that the payments giant is closer to winning the SEC vs. Ripple case. 

Analysts expect a Ripple win in SEC lawsuit 

Ripple, the global payment giant, has filed a supplemental briefing regarding the deliberative process privilege. DPP protects information like recommendations and analysis ahead of decisions from third parties. 

The Securities & Exchange Commission (SEC) needs to connect the records in question to specific decisions or decision-making processes to keep the information privileged. In the supplemental briefing, Ripple has confirmed the error of the SEC's position and questioned the agency's stance. 

The SEC needs to draw a connection between the documents and information that it wishes to keep privileged to go through with the DPP.

Ripple's response has fueled a bullish outlook among proponents and analysts. Analysts have predicted that Ripple is closer to winning the SEC's lawsuit. Ripple's win is expected to have a bullish impact on XRP price. 

Gregg Kidd, CEO of Global iD, says, 

I am looking for some form of a resolution from the Ripple case, and the SEC is more on trial than Ripple is.

Kidd is bullish on Ripple's win and considers that the SEC has yet to clarify what is considered a security.

@Bitboy_Crypto, a YouTuber and cryptocurrency analyst, believes that XRP is undervalued at this point. The analyst is bullish on the XRP price rally and set a target of $2 for the altcoin. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Largest DeFi exploit of 2022 wipes out $80 million from Qubit's Ethereum-BSC bridge

Ethereum-BSC bridge of Qubit Finance suffered a hack to the tune of $80 million in the largest DeFi exploit of 2022. Hackers exploited the "deposit" function to steal cryptocurrencies from Qubit Finance. 

More Ethereum News

Decentraland bulls go against the bearish trend, targeting $2.60

Decentraland (MANA) price has been on the front foot in a challenging market environment. MANA bulls look ready to eke out  28% of gains for this week after the price lifted from the 200-day Simple Moving Average (SMA) and is now set to pop and stay above the monthly S1 support level.

More Decentraland News

Charles Hoskinson awaits launch of Vaccuumlabs DEX on the Cardano network

Cardano network activity hit a peak with a spike in transactions on the network. Charles Hoskinson, the CEO of IOHK, is awaiting the launch of Vaccuumlab's DEX on the Cardano network. 

More Cardano News

Why Bitcoin has entered a new bear market

Bitcoin price has tumbled to a multi-month low below $33,000, as the leading cryptocurrency loses 50% of its value from its all-time high in November 2021. This marks the second-worst sell-off since the bear market that spanned from 2018 to 2020. 

More Bitcoin News

Bitcoin: Federal Reserve cannot tame BTC’s uptrend

Bitcoin experienced some significant losses over the past few weeks, with a more dramatic drop occurring this week after the Fed’s decision was announced. As losses have extended and Bitcoin has entered into the $30,000 zone, concerns regarding BTC being in a bear market have increased.

Read full analysis