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Recently, Ripple CEO Brad Garlinghouse expressed disappointment in the Biden Administration’s stance on crypto, stating, “To say that this is incredibly disappointing from this white house – at an incredibly pivotal time – is an understatement.” This announcement could have significant implications for crypto voters in the upcoming US Presidential Election.
As the SEC vs. Ripple case continues, investors are eagerly awaiting a court ruling on the Motion to Seal. Ripple filed the motion to protect sensitive non-public information, such as financial statements and contractual agreements with institutions. Meanwhile, the SEC has argued that these documents should be made public.
The outcome of this court ruling may not only impact the penalty that Ripple faces for breaching US securities laws but also whether XRP sales will be prohibited to US institutional investors. This decision could have a direct impact on buyer demand for XRP in the market.
In March, the SEC pushed for an almost $2 billion penalty and a court injunction against Ripple. As investors await the final decision, the XRP price action remains uncertain. Stay informed with Extreme Investor Network to stay ahead of the curve in the world of cryptocurrency and stock trading.