Ripple vs SEC Enters Crucial 14Day Countdown as XRP Case Intensifies

The SEC and Ripple have been given until July 8 to submit their updated motions to the court regarding the sealing of certain parts of their briefs in the XRP lawsuit.
Legal experts suggest that the SEC is now just as eager for a swift conclusion to the case, which has started to turn against the agency. A victory for Ripple could propel XRP to new heights.
The Ripple vs. SEC lawsuit has intensified over the past year after several years of minimal activity. The next significant date is July 8, the new deadline for both parties to present their motions.
The most recent battleground for Ripple and the securities watchdog has been a motion to seal some information from the lawsuit in order to safeguard its business interests. Ripple contends that the leakage of some of the trade secrets in the court documents to the public could impact its partnerships and hinder its ability to compete with its rivals.
As expected, the SEC opposed the move. Now, both parties will have to revise their motions on sealing portions of their briefs and submit them to the court within 14 days.
The SEC could suffer a defeat in this battle, which would be the most recent in a series of losses for the SEC in court against Ripple. When the agency initially filed the lawsuit against the California company, many anticipated a swift conclusion to the case and a settlement worth millions, as it had achieved with numerous other crypto firms.
However, Ripple demonstrated that it was not just another victim ready to be bullied by the SEC. Nearly four years later, Ripple appears to be more likely to emerge victorious. Even with such an outcome, the SEC’s demand for billions has decreased from $2 billion to just over a hundred million, and this figure might be further reduced to around $10 million.
What’s next for XRP?
The Ripple lawsuit has loomed over XRP for years. As former Ripple executive Sean McBride mentioned earlier this month, Ripple has entered into numerous new partnerships over the past year, and XRP adoption has increased, yet the price remains suppressed, likely due to the lawsuit.
The conclusion of the lawsuit is imminent, and XRP investors are becoming more optimistic. Key players in the industry are also supporting the token, from Bittrue exchange to Emerge VC, a crypto investor whose portfolio includes Solana, Binance, Crypto.com, and Uniswap.
“We’re supporting Ripple for its transformative potential in cross-border payments, making global transactions faster, more efficient, and cost-effective,” Emerge recently stated, adding:
By collaborating with financial institutions worldwide, Ripple is simplifying the international payment process, facilitating seamless currency exchanges, and enhancing transparency. We believe in Ripple’s vision to create an Internet of Value, where money moves as easily as information does today.
XRP is trading at $0.4799 after trading sideways over the past day; it’s down 3% in the past week, reaching $26.5 billion in market cap.