The Securities and Exchange Commission (SEC) and Ripple Labs jointly made a bid for the case to be resolved quickly. The payments giant battled with the SEC over the closing stages of the debate over Hinman’s speech and expert testimony. Altcoin CTO explained why XRP Ledger is better than Bitcoin and Ethereum. Meanwhile, a cryptocurrency analyst predicts a rally for the altcoin.
Ripple and SEC seek approval for quick resolution
Ripple and the SEC want to quickly approach the lawsuit that has been running since December 2020. The two parties made a proposal to provide easy and timely access to their summaries. Ripple and the Securities and Exchange Commission (SEC) wrote a letter to Hon. Analisa Torres seeks court approval to issue summary judgment motions. These proposals will be presented in the coming weeks.
The joint proposal by Brad Garlinghouse, Chris Larsen, and the SEC to seal matters before they go to court is an important step toward resolution. If the judge accepts the request, both parties will have access to summaries and unseen documents. Both parties agreed that redactions would be minimal and on schedule.
Meanwhile, Ripple CTO David Schwartz recently highlighted that XRP Ledger adoption is gaining momentum in 2022. The operational speed, attractive fee policy and scalability of the altcoin project are the main benefits of XRP Ledger.
Also, Ripple’s recent foray into the metaverse is another driving factor for the firm. As you follow on Kriptokoin.com, Ripple has recently partnered with a San Francisco-based design agency ‘btrax Inc’. Thus, Ripple became the strategic partner of the design agency. Services include Web3 Research and Reporting, a Web3 Boot Camp and a Web3 Design Service. According to experts, the partnership with Ripple is a testament to the robustness of XRPL to support the acceleration of Web3 projects in the global market.
Analysts predict altcoin rally to $0.46
Crypto analyst Michael Grullon has set a bullish target of $0.46 for the XRP price. Perez has spotted an ascending triangle on the XRP price chart. From here, the analyst predicts a rally to $0.46.
According to the analyst, it is possible for the XRP price to reach the $0.46 target with consistent gains in December 2022. Therefore, the analyst, SEC v. XRP remains bullish ahead of a decision in the Ripple case.
At press time, XRP is trading at $0.3571, up 1.43% on a daily basis, according to data from CoinMarketCap. Meanwhile, the altcoin gained 8.4% on a weekly basis. On the other hand, Ripple is about 91% down from the ATH level of $3.84 5 years ago.
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