Ripple, the major XRP distributor, has been at loggerheads with the United States Securities and Exchange Commission (SEC) since December 2020. The lingering legal dispute has obviously been taking a significant toll on XRP’s market value.
Despite making significant progress in the protracted case this year, the court case would extend as far as the second quarter of 2024 following the issuance of a pretrial scheduling order.
Read Also: Attorney Jeremy Hogan Hints the Judge May Have Already Decided XRP Security Status
Notably, the court had ordered both parties involved to submit blackout dates for the trial, to which they promptly complied. It is left to see how events unfold.
Meanwhile, amid all the happenings and uncertainties hovering around Ripple and XRP’s future, we shall analyze some key events that could initiate XRP’s rally in the remaining months of this year.
Interlocutory Appeal Rejection By the Judge
One major thing the XRP community is expecting right now is the rejection of the interlocutory appeal filed by the SEC. The course of the lawsuit will surely change for Ripple if this happens.
XRP experienced a meteoric rise after Judge Torres declared that XRP is not a security. As expected, the SEC moved to appeal the ruling, stating that its other security-related cases will be negatively affected if the ruling stands.
It should also be noted that a rejection of the SEC appeal by Judge Torres could put regulators and lawmakers on a clear and thorough regulatory framework for crypto assets.
XRP Lawsuit Settlement
Another possible end to the legal dispute could be a potential settlement between the parties involved. As long as XRP security status remains unchanged as ruled on July 13, settlement isn’t a bad option for Ripple. XRP community will also be excited, as settlement is a major resolution they have wanted.
It is worth noting that XRP, despite attaining a significant price high in July has since declined by about 50%. For context, XRP spiked to $0.93 following Judge Torres’s initial court ruling. The $0.93 price mark is presently the all-time high for XRP in 2023. A settlement news will surely send the digital asset on a huge run to higher prices.
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Read Also: Ex-SEC Official States Key Factor That Could Ignite SEC’s Interest in XRP Lawsuit Settlement
Incorporating ODL In U.S. Institutions
The On-Demand Liquidity (ODL) is RippleNet’s management solution that is used for executing payments very rapidly without the need for intermediaries.
The need for intermediaries has never been a profitable payment option. Aside from delaying transaction speed, it tends to incur more costs, which the ODL can help evade.
Implementing ODL by American financial institutions would go a long way in attracting potential users to XRP, as it would facilitate cross-border payments better than it appears to be doing now; this could also spur XRP’s surge within the year.
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