- The Securities and Exchange Commission and Ripple Labs have jointly filed a proposal for speedy resolution of the lawsuit.
- The payment giant has battled the SEC over the closing stages of arguments on Hinman’s speech and expert testimony.
- Ripple CTO David Schwartz explained why XRP Ledger is better and more decentralized that Bitcoin and Ethereum.
Ripple and the SEC are both looking for a speedy close to the lawsuit that has dragged on since December 2020. The two parties made a proposal to ensure easy and timely access to their briefs.
Ripple and SEC seek approval for quick resolution
Ripple and the Securities and Exchange Commission wrote a letter to Hon. Analisa Torres, seeking the court’s approval to regulate summary judgment motions. These motions will be filed in the coming weeks.
Brad Garlinghouse, Chris Larsen and the SEC’s joint proposal with respect to sealing issues ahead of the court filing is a key step in the direction of a resolution. If the judge grants the request, both parties will have access to briefs and unseen documents. Both parties have agreed that redacts will be minimal and on schedule.
Ripple CTO David Schwartz recently stressed that XRP Ledger’s adoption has picked up pace in 2022. The project’s operational speed, attractive fees policy and scalability are the key benefits of the XRP Ledger.
Ripple’s recent foray in the metaverse is another driving factor for the firm. Ripple recently struck a partnership with a San-Francisco based design agency ‘btrax Inc’. Ripple is the design agency’s strategic partner. The services include Web3 Research and Report, a Web3 Bootcamp, and a Web3 Design Service. The partnership with Ripple is a “testament to the robustness of the XRPL to support the acceleration of Web3 projects in the global marketplace”.
Analysts predict XRP price rally to $0.46
Michael Grullon, a leading crypto analyst has set a bullish target of $0.46 for XRP price. Perez has identified an ascending triangle in the XRP price chart and predicted a rally to $0.43. In December 2022, XRP price could hit its target of $0.46 with consistent gains. Analysts therefore retain a bullish outlook on XRP ahead of a decision in the SEC v. Ripple case.
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.
Recommended Content
Editors’ Picks
Chainlink price still trapped in range despite exhausted macro downtrend
Chainlink (LINK) price is cooking up a recovery rally after exhausting consolidation beneath a macro descending trendline. However, it remains confined within a range in the weekly timeframe, but an opportunity for breaking out could present soon.
Bitcoin SV price rises by 30% in a day as CEO resigns amid controversy
While Bitcoin price might not have been able to note a rise over the past day, its namesake is making the most of the relatively calm market. Bitcoin SV price shot up significantly after a major development in the network’s ecosystem took place over the past few days.
SUI price crashing by 7% sets a precedent for cryptos ahead of $36 million worth of token unlocks
SUI price action fell sharply over the past day, emerging as a leader of the cryptocurrencies witnessing a price fall. This is expected to worsen as token unlocks worth $36 million are scheduled for this week.
Bitcoin price macro outlook remains uncertain, analyst says
Bitcoin (BTC) price is still not in the clear, according to analyst and trader Rekt Capital, who explores the price action on a macro perspective. It comes after the big crypto leaped almost 5%, testing the $28,600 levels before a retraction.
Bitcoin: BTC recovery rally could be bull trap in disguise, here’s why
Bitcoin (BTC) price remains unfazed even after the multiple spot BTC ETF delays from the US Securities & Exchange Commission (SEC). But investors need to be careful with the ongoing BTC rally as it could be a trap for early bulls.