Beginning in 2020, Ripple has long been a part of the SEC lawsuit, affecting its overall reputation as a cryptocurrency. As a result, the XRP price also plunged to lower lows because the investors hesitated to buy the altcoin amid the broader bearish trends. Conversely, an AI contender is shifting market attention with its explosive $11.47 million presale.
SEC vs. Ripple Update: XRP Price Could See Better Growth
As of today, the SEC vs. Ripple case has entered a sensitive phase as the one-month countdown has begun for Ripple to file its appeal-related reply brief. Ripple is required to file its reply brief by April 16 and counter the SEC’s arguments for an appeal. Analysts hint at a potential shift in the XRP price as its 24-hour trading and network activity soar ahead.
Back to the case: the SEC filed its appeal-related opening brief on January 15 and challenged Judge Torres’ Programmatic Sales of XRP ruling. With no confirmation hearing date set for Atkins, the acting Chair Uyeda and Crypto Task Force head Peirce may need to finalize the SEC’s appeal strategy. The current XRP price could recover as the SEC vs. Ripple ends soon.
Given Acting Chair Uyeda’s stance on non-fraud-related cases, the chances of an appeal withdrawal are still high. Judge Analisa Torres issued her Final Judgment in August 2024 and ordered Ripple to pay a $125 million penalty. This penalty accounts for violating US securities laws and mandating compliance with Section 5 of the Securities Act.
XRP Price Pattern Amid Legal Clarity With the SEC
As of yesterday, the XRP price ended its five-day winning streak. The altcoin dropped 4.07% after a 1.45% gain on Saturday and closed at $2.29. Notably, the XRP price underperformed the broader market, which fell 2.39% to a total crypto market cap of $2.65 trillion. Based on the current trading analysis, the XRP price could face minor hiccups until the SEC case is over.
Regarding the update on the SEC case, the department’s silence on its appeal strategy weighed on investor sentiment, which led to profit-taking ahead of a pivotal week for the crypto market. Notably, Judge Torres’ fine was a fraction of the SEC’s demand for $2 billion as there were no allegations of fraud or recklessness.
Ripple Rival Sparks Excitement: Presale Skyrockets to $11.47 Million
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Users trading with IntelMarkets (INTL) experience the efficiency of advanced trading robots monitoring data on the blockchain in real time. This platform is the first of its kind to render high-end trading performance with AI implementation on the blockchain. IntelMarkets offers insights from over 350,000+ data points by leveraging its advanced infrastructure.
AI Dual-Chain Platform Beats Ripple Amid SEC Hearing
This presale powerhouse is also gaining traction as the dual-chain functional platform that allows traders to use either Solana or Ethereum for trading purposes depending on their mode of trading strategies and preferences. IntelMarkets is increasingly becoming the center of attention as Ripple struggles to escape the SEC scenario.
The platform incorporates Rodeum as the next infrastructure development layer for the upcoming IntelMarkets blockchain. Rodeum AI is positioned to work as a gateway to dApps and support the INTL ecosystem with industry-leading development support. Moreover, the development ecosystem on Rodeum is backed by over $500,000 in grants.
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