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.
Predictions for 2022 @LinqtoGIC @linqtoinc
— Digital Asset Investor Researcher/Wild Speculator (@digitalassetbuy) December 7, 2021
Awesome @gregkidd quote on SEC vs. @ripple
"It'll determine whether the US perpetually handicaps itself going forward or actually wants to rock and roll." pic.twitter.com/b30ymLpnBh
@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.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
