Ripple vs SEC to get the Final say Only by 2023! What about XRP in 2022?

There is the possibility of Ripple's win in the Ripple vs SEC case. But what about XRP in 2022?

Payment giant Ripple's win in the Ripple vs SEC lawsuit is considered a bullish catalyst for the altcoin. The former US congressional candidate Gokhstein believes if Ripple scores a win, it might influence the impeccable rise of the entire cryptocurrency market. The decision on the Ripple vs SEC case is still pending, Judge Torres will decide on expert motions and summary judgment on or before March 31, 2023. But the question is what will happen to XRP in 2022? How will this delay affect the price of the XRP coin?

The XRP in 2022 moved up to US$0.9081 on 28 March but has been unable to sustain that level, trending down to the US$0.56 level on 8 May. The price dropped to US$0.3852 on 12 May as crypto markets plunged with the collapse of the Terra cryptocurrency tokens UST and LUNA. XRP remained volatile in July, spiking and then pulling back three times. Ripple reached the US$0.40 level on 30 July for the first time since 10 June but was unable to hold there and slipped back to around US$0.37 in the first week of August. But that was still up from about US$0.31 in early July.

XRP price posted a sharp rally against Bitcoin (BTC) on continued optimism about a potential settlement between Ripple, a San Francisco-based blockchain payment firm, and the U.S. Securities and Exchange Commission (SEC). In other words, Ripple and SEC agreed that the court should use the available evidence to reach a verdict on whether the blockchain firm illegally raised funds by selling XRP by December 2022, and thus avoid a trial.

XRP's price has boomed approximately 75% and 60% versus Bitcoin and the dollar, respectively, since Ripple's court filing, fueled by optimism of a possible win for Ripple. Unfortunately, the lack of trading volume and gradual decrease in inflows led to the 18% reversal from the local high of $0.56. If bulls are unable to hold the asset's value above the aforementioned moving average, we will most likely see the return to the downtrend that the asset has been in for a year.

A lack of Ripple vs SEC case updates and external market forces led to a shift in sentiment towards the case. Optimism towards an early conclusion had fueled an XRP return to $0.55 before pulling back. Hopes of Court activity in response to the Motions for Summary Judgment filings stopped, as the Court schedule remained unchanged at the start of the week. Investors were also disappointed when the SEC and Ripple did not announce any plans to settle. Barring a surprise settlement, the next date on the schedule is October 18, by which time Parties must file all materials relating to oppositions to summary judgment motions.

At the time of writing, the XRP price is 0.489 with an upward surge of 11.43%. In the meantime, any change of update in the Ripple vs SEC Lawsuit and support from the broader crypto market would bring $0.50 back into play. Experts predict further that an extended rally would support a run at the Second Major Resistance Level (R2) at $0.5191 and $0.52. The Third Major Resistance Level (R3) sits at $0.5624. Failure to move through the pivot would leave the First Major Support Level (S1) at $0.4502 in play. Barring an extended sell-off, XRP should steer clear of the Second Major Support Level (S2) at $0.4324.

All about the Ripple vs SEC Case

The SEC in December 2020 brought a suit against the company, alleging that Ripple, its CEO Brad Garlinghouse, and co-founder Chris Larsen engaged in an illegal securities offering, during which they each personally sold XRP for hundreds of millions of dollars. If the SEC wins the case, XRP in 2022 (the native cryptocurrency of the Ripple Blockchain) will be considered security rather than a currency in the US. This could, in turn, set a legal precedent that results in similar cryptos being classified as securities as well. Therefore, the case against Ripple is important for all stakeholders within the crypto space, including investors, blockchain innovators, and lawmakers worldwide.