CJ - Cryptocurrency Specialist
Ripple (XRP) coin investors are eagerly anticipating an important announcement scheduled for September 29, 2023, following a summary judgment in favour of Ripple in an ongoing legal battle with the SEC. Ripple is also considering steps toward an IPO, potentially impacting its future.
Ripple (XRP) investors have faced uncertainty due to an extended legal battle with the SEC, which has negatively impacted the coin's performance. Ripple Labs CEO Brad Garlinghouse announced a community celebration event on September 29, 2023, in New York following the summary judgment. Speculation is growing that Ripple may make significant announcements regarding the lawsuit or other matters during this event, which could influence XRP's price.
The XRP Coin price is currently trading just below the critical $0.5 support level. Lawyer John Deaton, representing XRP token investors, believes a settlement announcement with the SEC is unlikely unless major developments occur in the Coinbase vs. SEC case. The possibility of an IPO is also considered weak, as it falls within the SEC's jurisdiction. The SEC's lawsuit against Coinbase, the largest cryptocurrency exchange in the U.S., has raised questions about its approval for an IPO. Ripple may follow suit depending on the outcome of the Coinbase case.
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