On 22 December 2020, the SEC “filed a case against Ripple Labs Inc. and two of its executives, who are also significant security holders, charging that they raised over $1.3 billion through an unregistered, ongoing digital asset securities offering”
“This case is just the latest in a long line of SEC efforts to regulate by enforcement, and it highlights the SEC’s efforts to cement and legitimize its overly broad interpretation of the Howey test,” and “a ruling that adopts the SEC’s view of the law would expand the landscape of assets that are considered securities in a manner contrary to the Supreme Court’s intent in Howey.” – Blockchain Association
The XRP token is gaining traction as the SEC-Ripple battle nears its conclusion, and investors appear to be bracing for an upward trend. On a daily basis, the XRP/USD pair is trading sideways, with immediate support near $0.4715, backed up by an upward trendline.
It’s possible that the settlement of Ripple won’t happen until the second quarter of 2023, which could be disappointing for investors expecting a speedy profit. Investors remain uncertain about the ongoing Ripple vs. SEC battle, so the XRP price prediction remains neutral.