March 8, 2021

Cryptheory

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Ripple’s pretrial conference: XRP price increases ahead of showdown

2 min read

TL;DR Breakdown

  • Ripple’s first pretrial confrence with the SEC set to hold today. 
  • XRP price remains bullish as other cryptocurrencies crash. 

Ahead of Ripple’s pretrial conference with the SEC, XRP is the only cryptocurrency that has remained bullish of all the top digital currencies. Presently, the cryptocurrency is trading at a 5 percent increase. 

In the early hours of today, XRP roused up to 23 percent, which is equivalent to $0.65, before dipping. However, unlike other top cryptocurrencies like Bitcoin and Ethereum, which earned substantial losses, XRP has managed to remain bullish.  

Ripple’s pretrial conference set to commence 

The Ripple’s pretrial conference with the SEC Is going to be the first between the two bodies. The meeting is going to take place at precisely 10:00 am EST on the 22nd of February. 

According to reports, both parties will have to summarize the case’s core matters, and judges can intervene if no conclusion or settlement is made. This way, both parties may eventually settle their disputes. 

Reports from U.Today claims that both parties submitted a joint letter stating that no agreement has been reached as of last week. The letter also disclosed that the discovery stage of the case should end on the 18th of August. 

The SEC filed a lawsuit against Ripple after claiming that the US-based technology company sold its tokens to investors without enrolling it as a security. 

What next for XRP? 

With Ripple’s pretrial conference in view, a lot of focus remains on the price of XRP. Presently, XRP, as stated earlier, is the only digital asset making gains in the digital market. However, what implications will the outcome of today’s meeting bring for the cryptocurrency? 

Investors and crypto enthusiasts are hopeful of Ripple emerging victorious as the price of XRP may increase. XRP suffered a significant loss of up to 70 percent back in December when sued by the SEC. We at cryptopolitan are keeping our fingers crossed, following what Ripple’s pretrial conference brings and how the meeting may affect XRP in the long run. 





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