Anticipation is rising as XRP enthusiasts look forward to a final ruling in the ongoing lawsuit with the SEC. Fred Rispoli, an attorney who supports XRP, expects the ruling to be made before July 31, 2024. This has led to an increase in XRP network activity.
The SEC's lawsuit against Ripple is a big deal. The SEC claims that Ripple sold unregistered securities as XRP tokens to investors. Initially, they asked for a fine of more than $2 billion.
By May 2024, that amount was reduced to $102.6 million. XRP cites the Binance lawsuit in its defense. In that case, Judge Analisa Torres ruled that XRP is not a security when sold on the secondary market.
Rispoli predicts that the case could end on July 31 or July 13, 2024. The latter date is important because it is the anniversary of Judge Torres' ruling, which stated that XRP is a commodity when sold to the public. The ruling caused the price of XRP to double, setting an important example for future legal cases involving cryptocurrencies.
XLM is closely related to the trend of XRP. XRP and XLM aim to solve the inefficiency of the global financial system, especially cross-border payments. Traditional methods can be slow, costly and lack transparency. Faster transaction speeds, lower fees and real-time settlement are provided through distributed ledger technology.
Currently, XRP has broken through the 0.46 resistance and XLM has broken through 0.09. Pay attention to the opportunity to enter the market again! #xrp
