Will Judge Torres Go Easy on Ripple? Experts Say Ripple To Reaches a Settlement of Over $10 Million

The post Will Judge Torres Go Easy on Ripple? Experts Say Ripple To Reaches a Settlement of Over $10 Million appeared first on Coinpedia Fintech News

In the midst of the high-stakes Ripple vs SEC, Ripple is on the verge of securing a settlement for over $10 million. Despite the legal tensions, XRP maintains stability, trading at $0.5046, marking a modest 0.30% daily gain after a 3.74% weekly dip.

Ripple Lawsuits Might End Soon

The SEC and Ripple have been in a court battle for a while regarding Ripple’s sale of XRP in an unregistered security offering. This legal fight has significantly impacted XRP’s value, causing its price to drop from an all-time high of $3.4 to $0.51.

Fast forward to now, the SEC wants Ripple to share detailed financial information for the years 2022 and 2023. They also want information about contracts governing XRP sales to big investors. 

Earlier Coipedia reported that Ripple has strongly opposed the SEC’s latest move, filing a response letter disputing the motion to compel, citing factual mischaracterizations by the regulator’s lawyers.

People who hold XRP are looking forward to February 12 because it’s a deadline related to finding solutions or remedies in the legal process.

Insights from Legal Experts

A renowned attorney & crypto enthusiast Bill Morgan thinks Judge Torres is going to lay down the law on the SEC’s request before we hit that February 12 deadline. 

On the settlement front, Attorney John Deaton suggests a possible resolution involving Ripple paying close to $10 million. 

Looking ahead, Deaton predicts that any fine imposed by Judge Torres is likely to be far less than Ripple’s hefty $200 million legal fees, possibly around $10 million. This legal situation has caught the attention of those involved in XRP, and they are eager to see how the court will decide.

XRP Technical Analysis

Turning to technical analysis, a well-known crypto analyst Akash Girimath, offers insights into XRP’s short-term outlook. Girimath suggests a bearish trend, anticipating a potential dip below the $0.468 support level before staging a recovery from the $0.532 support line. 

If these conditions are met, the long-term outlook could shift to bullish, with an upward target of $0.696. However, Girimath warns that a failure to bounce from the $0.468 support could signal weakness, potentially leading to an 18% crash to the $0.379 support level.