According to CryptoPotato, Ripple's ongoing lawsuit with the United States Securities and Exchange Commission (SEC) is nearing a crucial pretrial conference on April 16, which could hint at a possible settlement. Analysts suggest that a positive outcome for Ripple could lead to a significant price rally for its native token, XRP, similar to the positive responses to previous partial court victories in 2023.
The legal dispute between Ripple and the SEC, which began in December 2020, is approaching its final stages, with a grand trial scheduled for April 23. The SEC accused Ripple of illegally raising over $1.3 billion through unregistered securities offerings by selling XRP tokens. As the crypto community awaits the trial next week, a key development set to occur on April 16 is also noteworthy. Ripple and the SEC will have a Final Pretrial Conference before Judge Netburn. This is a court hearing where the prosecution and defense discuss whether the lawsuit should proceed to trial or be resolved through a mutual agreement.
Analysts supporting XRP have emphasized the significance of this event, suggesting it could lead to a settlement between Ripple and the SEC. A user named JackTheRippler even suggested the case 'could end tomorrow.'
The price of XRP, Ripple's native token, was among the most impacted cryptocurrencies during the recent market crash, falling by 15% on a weekly scale. However, as of April 15, XRP is recovering, surpassing the $0.50 mark once again. Some believe that the price could rally significantly if Ripple decisively wins against the SEC. It's worth noting that XRP responded positively to each of the three partial court victories that Ripple secured in 2023.