Lawyers reported significant progress in Ripple's legal dispute with the SEC.
According to experts, XRP could rise sharply after the end of the lawsuit.
XRP soared amid reports from lawyers about a serious approach to resolving the company's litigation with the US Securities and Exchange Commission (SEC).
The regulator claims in a New York court that the issuance of XRP tokens violated securities laws, resulting in the illegal enrichment of Ripple's management, writes Cryptor.
“It will be nearly impossible to prove any real correlation between the XRP price and Ripple’s public statements. The SEC also needs to prove that Garlinghouse and Larsen were selling XRP in the US,” said crypto attorney John Deaton, who represents over 64,000 XRP holders.
Judge Analysis Torres, who leads the case, issued two judgments last week that bring the case to its final stage.
XRP could rise sharply after the end of the lawsuit, but before that, there could be a serious drop in the token, according to popular Twitter analyst Credible Crypto, writes ripplenews.
“I am considering using XRP as a hedge against the rest of the market,” Credible Crypto stated. “If this SEC lawsuit is settled, and most likely in favor of Ripple, then XRP will essentially be the only crypto asset with clear regulation. in USA. And then XRP will skyrocket. So, in order not to be late, place your bets right now.