- In the SEC v. Ripple case, both parties agreed to close briefs before Christmas, pushing the lawsuit's end to 2023.
- The American regulator filed for an extension, opening doors to a settlement.
- Analysts observed technical indicators are bearish on XRP price after it dived below $0.65.
The SEC v. Ripple lawsuit has been delayed until 2023. After several key developments in the lawsuit, proponents believe the cross-border payments giant could reach a settlement.
XRP price bleeds as the SEC v. Ripple case drags on
XRP price has suffered a massive blow from litigation proceedings against Ripple. The altcoin continued its downtrend, posting 6% losses overnight.
The case brought by the the Securities & Exchange Commission (SEC) argues that XRP is in fact a security and should be registered as such, but that the Ripple failed to do so since 2013. The SEC has a history of regulating cryptocurrency projects like Ripple, Kik Interactive, and Telegram through the force of "regulation by enforcement." But the financial watchdog has taken this approach one step further with Ripple.
The SEC’s charges against Ripple and two executives.
Exchanges delisting $XRP following the SEC lawsuit is worrisome for many other tokens. The big questions now are "who comes next?" and "how fast will the SEC move?".
— Alex Krüger (@krugermacro) December 29, 2020
