Ripple Case Could Be in Final Stretch, XRP Investors Nervously Await

Investors in XRP are being cautious due to the unpredictability of the cryptocurrency market and the legal uncertainty surrounding Ripple. The No. 6 cryptocurrency continues to vacillate around this price, dropping below $0.45 once more.

If a catalyst materializes in the near future and those gains are not factored in, XRP could return to its 2023 highs of almost $0.60. The head of Ripple, Brad Garlinghouse, provided the cryptocurrency community with an update on the court case and hinted that a decision might be imminent.

Legal Conflict Ends

The U.S. SEC's case against Ripple has some hope, according to Ripple's Garlinghouse. He asserted that the company has momentum on its side and predicted that the court's ruling should be delivered in a matter of weeks rather than months.

Garlinghouse cited the court's recent ruling to prevent the regulator from trying to redact comments from a former SEC official that are in direct opposition to its position.

Those remarks concerned Ether, the second-largest cryptocurrency, and how it did not fit the requirements of a security. The SEC's case against Ripple is based on the allegation that the company sold unregistered securities by issuing XRP.

Ripple Expansion 

Garlinghouse is making a defiant gesture by looking forward. The CEO of Ripple has big plans for his blockchain-based global payments business. Ripple is preparing to expand despite the ongoing legal dispute with the SEC. 

Garlinghouse discussed how his company's goals go beyond just being a liquidity and cross-border payments player at the Dubai Fintech Summit. 

He expects Ripple will expand its footprint into other blockchain use cases, either organically or via M&A. For instance, Ripple might be trying to establish a presence in compliance or custody. For this expansion, Ripple has set aside up to $1 billion that is currently on its balance sheet.