SEC vs Ripple has been one of the highlights in the closing of one of the worst weeks for crypto. On 11th April, both parties filed for the SEC’s appeal suspension. This could be historical, and the market is waiting for Judge Torres’ final judgment on the settlement.
As per Ripple’s legal officer Stuart Alderoty, the penalty could drop from $125 million to around $50 million. However, Ripple could face prohibition of XRP sales to institutional investors. Therefore, a lot depends on what Judge Torres has to say.
The New Chapter
The filing also reignited speculation about potential XRP spot ETF approval. Market experts like FXEmpire believe there could be more XRP-related products, which could be great for the US spot ETF market.
Eric Balchunas of XRP states that, “The volume on XXRP is impressive, these are big numbers for Day Two-Four, esp for a 2x indie in a whack market. Child’s play vs bitcoin ETFs of course, but really strong, this thing is finding an audience quickly.”
The market is split due to updated tariff plans. US-China tensions could take centre stage at any moment. The war has already reached a crucial stage, and it is important to understand its scale and the impact it could have on the crypto landscape.
In Other News
In other news, BTC seems to be holding out for now. However, with so much going on, things can become chaotic at any point in time. Hence, the market is bordering on the fear/greed matrix, and investors are in the wait-and-watch mode.
