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Ripple case with SEC facts expected to trickle in on September 19
- The case will have wide impacts on XRP and the broader crypto
- XRP is recovering but remains in consolidation mode
The Ripple v. SEC case could get an interesting twist on September 19. It is the day that the parties submit open redacted briefs that will support the summary judgment of the case. Afterward and before the end of the year, lawyers from both sides will discuss. The negotiations will culminate in refining the briefs for case determination. Will this mark the end of the long-standing conflict between the regulator and Ripple?
Pro-XRP activist and lawyer Jeremy Hogan is excited about the new date, which is slightly a week away. In a tweet on Friday, Hogan hinted that the date marks “the endgame.” In the tweet, he did note that it is the day the public will know what each party holds.
There is an interesting fact why any development between SEC and Ripple is crucial for now. For a long time, investors have waited for the case’s conclusion. Ripple has made a majority of small wins. That has led to speculations it will outwit the regulator in defending that XRP cannot be classified as a security. XRP’s price has been tied to the projected ruling. The ruling will have wider ramifications on the broader crypto sector.
XRP price outlook and prediction
XRP has surged by 4.27% in the last 24 hours. That averages the gains by other major cryptos. It illustrates that the September 19 event is yet to influence the price.
Source – TradingView
A technical outlook shows XRP is still trapped in the consolidation channel. The token is recovering from the bottom of the channel. The RSI reading of 52 suggests no oversold or overbought conditions.
Concluding thoughts
September 19 is a key development to watch if trading XRP. It will offer some clues about future case determination and XRP price. The cryptocurrency will be best bought on a breakout at $0.37.
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