The Ripple vs. SEC legal battle appears to be reaching a pivotal moment, with speculation mounting that a resolution may be on the horizon following a closed-door meeting held by the SEC on March 6. While some experts anticipate a decision could be imminent, software engineer Vincent Van Code is urging caution, warning investors against making hasty decisions in the hopes of capitalizing on potential price movements.
Van Code emphasized that betting on rumors and speculations surrounding the outcome of the Ripple case could be a risky endeavor. Despite widespread anticipation for a significant development in the SEC’s stance on XRP, he cautioned that the situation may not be as straightforward as some believe.
The recent closed-door meeting conducted by the SEC has fueled speculation that a resolution in the Ripple case could be imminent. However, Van Code stressed that the legal processes involved in the case may prolong the timeline for a final decision. While the SEC has recently dropped lawsuits against other cryptocurrency firms, Ripple’s unique circumstances, including an existing court ruling and a proposed $125 million penalty, make its case more complex.
Judge Analisa Torres is set to oversee the Ripple case until August 2025, indicating that any potential settlement would need to undergo legal scrutiny and approvals, a process that could take time. While there is optimism that the case could be resolved by May, Van Code cautioned that investors should temper their expectations for a swift resolution.
Given the uncertainty surrounding XRP and its legal challenges, Van Code reiterated his warning that investing in XRP based on speculation alone is akin to gambling. The phenomenon of “buying the rumor, selling the news” is a common pitfall for traders who anticipate price spikes but end up facing losses if expectations are not met.
As XRP continues to face downward pressure, currently trading at around $2.33 after a recent 8.5% decline, the cryptocurrency is struggling to maintain its position above $2.50. A failure to hold above the $2.20 support level could lead to further losses, potentially pushing the price towards $2.00. Conversely, a breakout above $2.50 could signal a resurgence in bullish momentum, with a potential rally towards $2.70 or even a retest of the $3.00 mark on the horizon.