The price of XRP has been stabilising as investors await a court ruling in the SEC dispute.
According to statistics published by CoinMarketCap, Ripple’s XRP traded at $0.33 on Monday, below a key barrier of $0.4. Bears have rejected a break over $0.4, as bulls struggle to prevent a probable decline. As Ripple’s dispute with the U.S. Securities and Exchange Commission dragged on, the tug of war was caused by an uncertain environment.
Investors are more optimistic that December might be a watershed moment for Ripple. The submission of summary judgement papers on November 30 increased anticipation. The parties to the litigation met on December 2 to discuss redactions of court documents.
The subsequent release of the summary judgements on December 5 sparked rumours that the matter was nearing its conclusion. Since Ripple had already achieved significant victories, investors anticipated that the dispute would conclude “anytime” after December 5.
Charles Hoskinson, a co-founder of Cardano, said on December 15 that a decision may be made. During an AMA session, the blockchain entrepreneur said, “I’ve heard that the Ripple lawsuit will be resolved on December 15.” Let’s simply see. This might have disastrous effects on the industry in any direction.”
Ripple fans are now in the dark while the date of settlement is challenged. John Deaton, a proponent of XRP and a lawyer, predicts that the verdict might be delayed until April or early May. Deaton responded to a question during the RealVision Crypto briefing on the viability of a March 31 settlement date.
According to Deaton, the 31st of March would be the earliest possible date since the court must review countless pages of documentation before rendering a final decision. The attorney said that 17 amicus papers had been submitted, making an early resolution impossible.
Recent market activity for XRP indicates that investors are eagerly awaiting the judgement. The current consolidation indicates traders’ caution since any bad conclusion might result in a price decrease.