XRP Takes Impact as Ripple, SEC Enter Final Pre-trial Conference Today

Widely circulated court documents concerning the legal case of Ripple and the SEC suggest that both parties could settle within the next 24 hours. In particular, the court document endorsed by District Judge Analisa Torres stated that on April 16, 2024, the legal counsels of the SEC and Ripple must appear for a final pretrial conference in a courtroom in New York.

With the conference set for today, anticipation has been building within the crypto community about the potential outcome. In addition, the document specifies that before the scheduled pretrial conference, legal counsels representing Ripple and the SEC must meet in person for at least one hour to explore potential settlement options regarding the case.

As a result, prominent XRP community members like Ashley Prosper have expressed that Ripple and the SEC have settled. This view is backed by a series of events related to the SEC’s legal actions that have unfolded recently.

Late last month, the SEC submitted its initial remedies brief and proposed judgment in the Ripple case. Specifically, the regulator explicitly asked the court to compel Ripple to pay over $1.95 billion in fines and penalties for its alleged breach of federal securities laws. Moreover, the regulator wants Ripple to pay this settlement within 30 days after the court adopts the proposed judgment as the final ruling.

Interestingly, Ripple has unlocked 500 million XRP from escrow outside its usual monthly schedule during the week of the settlement conference. This move has led to speculation within the community that these funds might be linked to the potential settlement discussions.

While anticipation for a settlement grows, XRP’s price has not seen a positive impact. In particular, XRP is down by over 2.2% in the last 24 hours and 20% over the past seven days.

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