Ripple vs SEC: What the 60-Day Pause Means for XRP

In a recent update shared on X , prominent crypto commentator and trader Ripple Pundit provided insight into the current status of the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), outlining both the legal and market implications for XRP. According to Ripple Pundit, legal proceedings have been temporarily paused for 60 days , a development that allows the SEC additional time to produce a critical report. While this move does not signify a resolution, it marks a notable pause in active litigation and offers a window for progress toward a settlement. The pause appears to have had a favorable impact on market sentiment surrounding XRP. Ripple Pundit notes that the asset has appreciated by 13% over the past week. He links this increase not only to the temporary easing of legal pressure but also to Ripple’s ongoing business activities, including new strategic alignments. As the legal situation remains in flux, Ripple is simultaneously moving ahead with its business agenda, particularly focusing on institutional collaborations in the U.S. banking sector. Ripple’s Corporate Activity and Institutional Expansion Ripple Pundit says this legal hiatus has opened Ripple to active expansion. He points to the company’s acquisition of Hidden Road , a prime brokerage, clearing, and financing company, as a catalyst for increased transaction volumes on the XRP Ledger. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 According to the commentator, this acquisition could have a material effect on network activity and utility. Additionally, Ripple is engaging in further strategic partnerships, including a recent association with Chipper Cash, a financial technology firm with growing influence in African markets. These moves suggest that Ripple focuses on broadening the use case for XRP despite the unresolved legal backdrop. While the SEC’s final decision remains a key variable, Ripple appears to capitalize on the current pause to strengthen its infrastructure and global presence. Ripple Pundit also states that forward movement on any potential settlement will require the endorsement of SEC Chair Paul Atkins. Price Movements and Market Indicators At the time of Ripple Pundit’s analysis, XRP was trading at $2.10. He observed that the asset showed signs of consolidation, with technical indicators offering mixed signals. Specifically, the Moving Average Convergence Divergence (MACD) shows the potential for bullish momentum, although overall buying pressure remains neutral. Ripple Pundit identifies $2.20 as a key resistance level, suggesting that a break above it could lead to further upward movement. Conversely, a decline below $2.00 may expose the asset to increased bearish sentiment. As of press time, updated data from CoinMarketCap places XRP’s price at $2.07, reflecting a slight decline of 0.74%. This movement underscores the continued volatility and uncertainty in XRP’s near-term outlook. Despite positive developments on the corporate side, market participants remain cautious as the legal narrative has not yet reached a definitive conclusion. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Ripple vs SEC: What the 60-Day Pause Means for XRP appeared first on Times Tabloid .

Source: TimesTabloid