In the Ripple-SEC legal battle, Ripple scored a partial victory this year when Judge Analisa Torres ruled in its favor. The SEC’s appeal was also denied, and the case against Ripple’s CEO and co-founder was dismissed. November 9 is a crucial date, as the SEC plans to meet and confer with Ripple, as stated in a letter to Judge Torres. The outcome of the November 9 meeting could have far-reaching implications for Ripple, XRP, and the broader cryptocurrency market.
This meeting aims to discuss potential remedies concerning Ripple’s alleged Section 5 violations. This meeting is a significant development in the ongoing legal battle between Ripple and the SEC.
While the exact details of the meeting are yet to be disclosed, it’s a critical point in the case. This session is expected to pave the way for discussions on potential solutions and the eventual resolution of the lawsuit. It’s a date that many in the cryptocurrency community and the legal world are keeping a close eye on.
Legal experts suggest that the chances of the SEC winning are very slim, and even if they do, the process will be long and complex. The SEC would need to go through multiple hearings and appeals, extending the case for an extended period. The XRP community can expect more updates on this lawsuit, but the good news is that XRP’s status as a non-security is unlikely to change. The bad news is that it might be a while before the case concludes.
The price of XRP has increased by more than eight percent in the last week alone. Given an important date coming up, it remains to see if the bulls will take over and push the price beyond the critical $0.54 level.
Source: https://coinpedia.org/news/xrp-price-bullish-momentum-could-the-november-9-ripple-vs-sec-lawsuit-meeting-push-prices-higher/