Several factors will influence the movement of the XRP price in the coming weeks and perhaps in the coming months, including the Ripple lawsuit against the SEC, which recently entered the hearing phase.
Factors such as general market sentiment could strengthen or limit price action. Like Bitcoin, Ethereum and other cryptocurrencies, XRP responds to inflation, geopolitical forces and other internal fundamentals.
Is there an agreement between Ripple and the SEC?
Ripple CEO Brad Garlinghouse recently expressed the opinion that the long legal battle with the SEC will be over soon. Following comments made during a Bloomberg interview, XRP price jumped to $0.63 along with increased network activity.
Garlinghouse did not comment on whether Ripple is seeking a settlement with the SEC. A closed-door meeting between the agency and the blockchain company last week has been rescheduled for July 25.
Legal experts have warned against speculation, as this could be another of many routine closed-door meetings between the two sides.
However, Garlinghouse assured the community that the case would be concluded “very soon”.
Stuart Alderoty, the company's chief legal officer, said in a post on X that while the case has not yet been decided, the July 2023 ruling that XRP is not a security token will not change.
