Ripple with the United States Securities and Exchange Commission (SEC) $2.8 Latest updates have arrived in the long-running legal battle between Labs. Defense attorney James K. Filan reported that both sides submitted a specification. Following this development, the price of XRP increased by 11.52% and attracted the attention of investors.
Developing Process of the Case
Defense attorney James K. Filan noted that both sides agreed to file a deferred supplemental brief for counter-arguments. The SEC is required to submit the opening petition within the specified period. Filan explained that the following statements were included in the official file: “The parties, for the contention and counter-contention, Fed. R.App. They agreed to file a deferred supplement pursuant to P. 30(c) and LR 30.1(c).”
“This means that the parties will then file a single combined supplementary brief containing the information referenced in the filed pleadings. “This does not change anything regarding petitions that have not yet been filed.” –Sherrie
Increase in XRP Price
Following the latest developments, the price of XRP increased by 11.5% in 24 hours and is currently trading at $2.82. Daily trading volumes increased by 12% to over $11.5 billion, supporting the continuation of the bull trend. XRP savings of large investors also increased by 37% in the last two months, showing that they added approximately $3.8 billion worth of XRP.
Future Prospects
XRP Ledger is in strong demand due to its potential applications in banking and financial transactions. Large banks such as JPMorgan have stated that XRP ETF approval may be possible in 2025, and an inflow of approximately $8 billion is expected in the first year of approval. These developments increase trust and demand for the Ripple cryptocurrency.
“The market is reacting positively to the SEC’s opening petition.” – Attorney Bill Morgan
Conclusion
The case between Ripple and the SEC is at a critical juncture for the future of XRP. Each step in the legal process directly affects market dynamics and investor confidence. The increase in the price of XRP and the savings of large investors reflect the strong demand and expectation in the cryptocurrency market. Future developments, particularly the outcome of the SEC’s inaugural petition, will play a significant role in shaping the value of XRP.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
