Ripple SEC trial nears end: XRP price jumps 10% amid settlement rumors and new banking partnerships in Southeast Asia

Ripple SEC trial nears end: XRP price jumps 10% amid settlement rumors and new banking partnerships in Southeast Asia

Ripple SEC proceedings: XRP price rises due to settlement rumors

In the last few days, rumors about a possible settlement in the legal dispute between the SEC (U.S. Securities and Exchange Commission) and Ripple caused a sharp increase in the price of XRP. In just two days, the token's price gained an impressive 10%. According to reports from Fox Business News journalist Eleanor Terrett, information from well-informed sources suggests that the trial may soon be coming to an end.

The positive market reaction may also be due to the prospect of Ripple attempting to negotiate more favorable terms for its stipulated $125 million fine and long-term injunction against selling XRP to institutional investors. Terrett highlights that Ripple plans to challenge Judge Torres' decision due to the SEC's changing stance on crypto regulation. She expresses the following thesis:

“If the new SEC leadership abandons enforcement against all previously targeted crypto companies because it believes regulatory clarity solves the underlying problem, why should Ripple continue to be penalized?”

The regulatory developments significantly influence the status of XRP and its future price development. On Wednesday, XRP rose 3.13% to close at $2.2398, following a 7.44% increase on Tuesday. At the time of writing, XRP price is $2.23 and has gained 1.67% in the last 24 hours.

Legal experts express skepticism

Despite the positive news, there are concerns among legal experts that the proceedings will be concluded soon. Crypto lawyer Bill Morgan notes that although Ripple could file a motion to modify the injunction, SEC approval would be required. Even if the SEC agrees, that might not persuade Judge Torres to vacate the order.

Similar cases against companies such as Binance and Lejilex have shown that the applications were postponed until April while leadership changes and the creation of a crypto task force were discussed as possible solutions. It seems likely that Ripple could take a similar path: a joint application from both parties would signal a conclusion to the process.

James “MetaLawMan” Murphy also points out that while Judge Torres’ decision was positive for XRP holders, it still carries significant legal consequences for Ripple itself.

Future outlook for XRP price

The future price development of XRP will be determined by several influencing factors in the coming weeks. A possible inclusion of XRP in a strategic multi-crypto reserve in the US could lead to an improvement in market sentiment. Should the SEC withdraw its objection, XRP would have the potential to surpass the all-time high of $3.55. However, ongoing legal uncertainties could push prices below $1.50.

Another crucial factor is the development of XRP spot ETFs, the approval of which could trigger institutional capital inflows and drive the price up to $5.00. However, the ongoing legal disputes are likely to extend the time until ETFs are approved.

Meanwhile, recent economic data shows a mixed reaction from the broader crypto market. While annual inflation in the US fell from 3% in January to 2.8% in February and core inflation fell from 3.3% to 3.1%, Bitcoin experienced a temporary decline to $80,616 but recovered to close at $82,855, resulting in a 0.27% increase.

Additionally, Ripple was recently able to secure a license for money transfers in the multi-billion dollar market of the United Arab Emirates, which is also seen as a positive step for the company and the XRP community.