Ripple (XRP) Pumps 25%: Lawsuit Getting Closer to a Decision

The Ripple (XRP) coin gained strong positive traction, reaching an intra-day high around the $0.496709 level in anticipation of a resolution in the ongoing lawsuit with the US Securities and Exchange Commission. Meanwhile, the continued uptrend in the cryptocurrency market bolstered Ripple (XRP) coin prices.

According to reports, the XRP price has increased by about 25% in the last month, and the asset has increased by 41%. Ripple Labs filed a request for summary judgment on September 18, a legal process in which the court makes a final decision based on the facts provided rather than ordering a trial, and a ruling on whether XRP is a security is expected by mid-December, according to defense counsel James K. Filan.

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The cryptocurrency markets have risen in the last 24 hours. Bitcoin, Ethereum, and BNB have all increased in value. As a result, the XRP has rallied; XRP is up more than 20%, and other cryptocurrencies are up.

Ripple Price Review & Tokenomics

The current XRP price is $0.501922, and the 24-hour trading volume is $3,531,068,038. In the last 24 hours, XRP has gained 2.04%. CoinMarketCap now ranks #6 with a live market cap of $25,020,167,436 USD. It has a total quantity of 100,000,000,000 XRP coins and a circulating supply of 49,848,747,475 XRP coins.

Ripple to Settles with the SEC

The Securities and Exchange Commission (SEC) and Ripple Labs’ key legal dispute, which has captivated the cryptocurrency sector in recent years, may be nearing its conclusion. On September 18, Ripple’s defense attorney James K. Filan tweeted that Ripple Labs CEO Brad Garlinghouse had filed an early motion for summary judgment.

#XRPCommunity #XRP 1/3 Here’s the SEC’s argument, as I interpret it.

“We aren’t saying XRP is a security per se. What we are saying is that any purchase of XRP, as a matter of economic reality, is an investment in a common enterprise with other XRP holders and with Ripple.

— James K. Filan 🇺🇸🇮🇪 114k (beware of imposters) (@FilanLaw) September 24, 2022

The next day, Caroline D. Pham, a Commodity Futures Trading Commission commissioner, spoke with Brad Garlinghouse. This comes after reports that Ripple and the SEC have asked a court to resolve their ongoing legal dispute.

The crypto community is generally upbeat about the situation. If a settlement is reached, the price of Ripple will rise above $0.50. Furthermore, they are optimistic about the possibility of a compromise because Ripple Labs claims that no investment contract exists. As a result, the summary judgment motion is viewed as a prudent strategy that may result in a settlement with the SEC.

On the other hand, investors are positioning themselves favorably in anticipation of a resolution to Ripple’s legal dispute with the US Securities and Exchange Commission. As a result, XRP, a payments-focused cryptocurrency, has outperformed larger cryptocurrencies. Some traders are purchasing bullish options bets in anticipation of continued gains through the end of the year.

Recovering Crypto Market Sentiment

The cryptocurrency markets are returning to a bullish trend this morning. The overall cryptocurrency market valuation has risen by 4.81% to $941.84 billion, surpassing the $900 billion mark. The total cryptocurrency market volume over the last 24 hours was $76.01 billion, a 14.92% decrease from previous levels.

Bitcoin, Ethereum, and Binance Cash have all made gains in the previous 24 hours. Bitcoin is now worth $19,353, a 4.56% increase. Ether, the cryptocurrency of the Ethereum blockchain, is up 6.04% to $1,331.

BNB coin, native to Binance Smart Chain, has increased by 3.29%. As a result, the cryptocurrency market’s recovery was viewed as one of the primary factors contributing to the XRP coin’s ongoing value gain.

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