Investing.com – The SEC lawsuit has dragged on for more than two years. The agency accuses the company of selling unregistered securities worth $1.3 billion.
The trial may be in its final stages as both parties have filed requests for an abridged trial and therefore for the court to make a decision.
Attorney John Deaton asked the XRP community what the next step would look like. Nearly 60% of the 18,000 survey participants assume there will be an out-of-court settlement between the SEC and Ripple. The remaining more than 40%, however, suspect that authority depends on a verdict.
If the former is the case, the case will be filed no later than March 31, according to attorney James Filan. Because until now, Judge Torres has time to make a decision in the summary proceedings requested to meet.
John Deaton no longer believes there will be a settlement. If the SEC was interested in a settlement, it would have been done before Hinman’s speech materials were released. The details of Hinman’s 2018 designation as a commodity were expected to be negative for the SEC and its lawsuit. Obviously it’s not him Case.
Ripple Technical Price Marks
Ripple is currently trading at $0.3451 with a gain of 1.98%, while the weekly loss is -1.91%.
The cryptocurrency tested the cycle low at the $0.3200 area today after failing to hold resistance at the 23.6% Fibo retracement of $0.3649. However, it has already managed to start a rebound, but it needs to clear the 23.6% Fibo retracement and the 55-day MA of $0.3727 on a daily close. Only then can it be ruled out in the short term that there is a risk of increased losses.
Thereafter, attention would shift to the 38.2% Fibo retracement of $0.3926 and the 50% Fibo retracement of $0.4149.
By Marco Oehrl