Watch Out for XRP Price As Ripple Case Nears Verdict Amid SEC Scrutiny

The Ripple vs. SEC legal battle is approaching a crucial phase that could reshape XRP’s future and the broader crypto landscape. With both sides filing a joint request to pause the appeal process just before Ripple’s April 16 deadline. Investors and XRP holders are watching closely, as the outcome could influence the XRP price.

Joint Filing Brings Fresh Hope

A recent court filing has sparked new hope among XRP supporters. Ripple and the SEC jointly requested a suspension of appeal proceedings, a move that came just days before Ripple’s scheduled reply brief. This unexpected collaboration has led many to believe that the final judgment may be close.

If the SEC chooses to officially withdraw its appeal of Judge Analisa Torres’s decision concerning programmatic XRP sales, the legal ambiguity surrounding XRP should significantly dissipate. A clean victory for Ripple could revive investor confidence and drive the price of XRP towards its prior high at $3.5505.

OIG Investigation Leaves Questions Unanswered

While the case unfolds, the SEC’s integrity is being questioned due to an investigation by the Office of Inspector General (OIG). Empower Oversight, a government watchdog, submitted evidence in 2022 raising concerns about possible conflicts of interest within the SEC’s crypto-related decisions.

However, the findings released on April 11 left the legal community disappointed. The investigation did not uncover any criminal activity or evidence of personal gain by former SEC official Bill Hinman. Still, critics say the OIG report was too narrow in scope.

Hinman Controversy and Its Impact

One of the key issues involved Bill Hinman’s 2018 speech, where he said Ethereum (ETH) and Bitcoin (BTC) were not securities. This speech has played a big role in the XRP lawsuit. Documents revealed during the Ripple case showed Hinman was in contact with his former law firm, Simpson Thacher, despite ethics warnings.

Simpson Thacher is part of a group promoting Ethereum. Critics argue that Hinman’s ETH-friendly speech helped Ethereum rise above XRP in market value when XRP came under heavy regulatory fire. While the investigation found no wrongdoing, many in the crypto space feel that the XRP price was unfairly impacted.

Legal Experts React

Not everyone is satisfied with the OIG report. Pro-crypto lawyer James Murphy called it a “free pass” for Hinman. Another attorney, Bill Morgan, called the probe superficial, suggesting the probe lacked the gravity and seriousness the issue deserved.

Within the XRP community, there is a sense that transparency and accountability are necessary to restore trust in the SEC, especially as the agency’s actions can directly impact the price of XRP and the broader market.

What’s Next for XRP Price?

As of Sunday, April 13, XRP fell 1.88%, retreating from a strong rally the day before. The rest of the cryptocurrency market also fell under the weight of more broad-based economic forces, such as US-China trade tensions and possible changes to Fed policy. However, on 14 April, there was hope, with XRP trading at $2.14 with a 0.50% growth. 

Looking ahead, several things could influence the XRP price:

• A final SEC settlement or appeal withdrawal could lead to a significant price rally.
• Approval of an XRP-spot ETF may attract institutional investors.
• On the flip side, delays or macroeconomic uncertainties could keep XRP near $1.70.

The Ripple case isn’t just a legal matter, it’s a turning point for XRP. Investors are holding their breath, as the SEC’s next move could drive the XRP price sharply in either direction. 

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