This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The legal battle between Ripple and the SEC has been ongoing for nearly three years. The SEC filed a lawsuit against Ripple, accusing it of selling XRP as an unregistered security. Ripple has secured three partial court victories, with a federal judge ruling that its XRP sales did not constitute an offer of investment contracts. The SEC’s attempt to appeal the decision was dismissed, and Ripple’s CEO and Executive Chairman were cleared of all charges. While the final outcome is expected in spring 2024, there is speculation of a possible early settlement. A confidential SEC meeting has fueled rumors of a resolution with Ripple. If Ripple were to win decisively, experts predict a significant increase in the value of XRP. In mid-July, XRP’s valuation spiked by over 70% following Ripple’s first partial win. Analysts have made short-term predictions, with some suggesting XRP could reach $0.88 at the beginning of December. Others believe it could finish the year around $0.71.