Ripple v. SEC Lawsuit Update Sep 22

The legal battle between Ripple and the United States Securities and Exchange Commission (SEC) remains a trend in the crypto space. Both entities have fired multiple shots at each other in the past three years, with the crypto company currently having the upper hand.

In this article, we will observe the most recent developments around the case and how its eventual outcome could affect the price of XRP and the entire cryptocurrency market.

The Ripple v. SEC War is not Over

The dispute between the organizations started at the end of 2020 when the SEC sued Ripple, accusing the latter’s management team of breaching laws and using the alleged unregistered security XRP to raise funds.

The legal battle has passed through numerous peaking points over the last few years. However, the most important moment of the clash appears to be Ripple’s partial win in mid-July this year. Back then, a US Judge ruled that the firm’s sale of XRP didn’t constitute an offer of investment contracts.

This resulted in a substantial price increase for the token, which spiked to approximately $0.84 (a valuation last seen in March 2022).

Nonetheless, the regulator was unhappy (to say the least) with the court’s decision and formally appealed it earlier this month. Some analysts, including KALEO, believe the request will hit a dead end, ultimately triggering a fresh spike in XRP’s price.

Ripple’s Costs are Growing

It is worth mentioning that the legal battle with the SEC has caused severe financial damage to Ripple. As CryptoPotato recently reported, the blockchain enterprise has so far spent around $200 million to persist in the fight with the watchdog.

As in every war, though, “the end justifies the means,” as Ripple’s potential decisive victory could greatly benefit the company’s future advancement. It could also prompt overall excitement among crypto investors and a possible market revival.