Ripple’s Lawsuit: New Developments Could Have a Huge Impact
The Ripple lawsuit by the SEC is awaiting a summary judgment from the court. Recent developments suggest that the case may take a new turn, which could significantly impact the final ruling.
Lawyer Bill Morgan revealed in a tweet that the SEC’s expert admitted that XRP’s value has been influenced by up to 90% due to the price fluctuations of Bitcoin and Ethereum since mid-2018.
It was surprising to me that the SEC’s own expert conceded that since mid-2018 onwards that Bitcoin and Ethereum price movement can explain as much as 90% of XRP’s price movement./1 pic.twitter.com/0ZA33On6EO
— bill morgan (@Belisarius2020) April 7, 2023
Should the expert’s assumption hold true, it could suggest that Ripple is allowing the price of XRP to be affected indirectly by Bitcoin and Ethereum’s price fluctuations.
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The SEC is presenting evidence to support this assertion by arguing that Ripple’s price statements impact XRP’s value. The SEC accuses Ripple of selling XRP tokens as unregistered securities. Ripple is defending itself by urging the unsealing of Hinman speech documents.
Based on recent remarks by lawyers, it is speculated that the case outcome may result in a fine for Ripple and require the company to continue operating its business.
The ruling may also influence the listing of digital assets on various trading platforms. The date for the summary judgment is yet to be confirmed.
The outcome is expected to impact the value of XRP and the crypto sector as a whole. XRP is currently trading at $0.51, with weekly gains of around 1%.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
