XRP Braces For Turbulence Amid Looming Fed Hike, Ongoing Ripple-SEC Court War

It seems now that XRP fell short on capitalizing on hopes that Ripple will finally earn a victory on its long-running legal dispute with the U.S. Securities and Exchange Commission as it swayed between profits and losses on September 19. It can be recalled that the SEC and Ripple Labs, the company behind XRP, agreed to expedite the lawsuit that aimed to determine whether or not the cryptocurrency could be considered a security. Both parties now want a federal judge to make a ruling on whether or not Ripple Labs violated federal securities laws or otherwise dismiss the lawsuit, ending the legal battle. With this, New York Southern District Judge Analisa Torres has been asked to make a summary judgment based on the arguments and accompanying documents submitted by SEC and Ripple Labs which were posted on a federal court database on Friday. Entrepreneur and crypto enthusiast Jeff Sekinger shared some insights about the matter on Twitter, saying that the case was going in favor of Ripple Labs. Related Reading: Ethereum Could Gain 10% Before ETH Resumes Its Reversal Ripple and the SEC both agreed to expedite the lawsuit on Friday to get an answer on whether $XRP is a security or not. From the updates of the case, it sounds like it’s in the favor of @Ripple pic.twitter.com/SAyl4VLxdM — Jeff Sekinger (@JeffSekinger) September 19, 2022 The Pressure Of An Imminent Fed Hike Basing on its September 19 daily candlestick, experts inferred ...