The ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) may be ending, as a settlement has been rumored. Yet, amid those rumblings XRP has plummeted almost 3% over the last 24 hours, continuing its downtrend for more than a month.
However, there is hope that the presence of a settlement could be good news for investors hoping for a return to form for the cryptocurrency. Indeed, could the conclusion to the SEC lawsuit bring forth a rally that could arrive just in time for the highly-anticipated Bitcoin Halving Event?
Also Read: Ripple XRP Targets $0.60 In April as SEC Case & Halving Begin
Ripple & SEC May Have Settlement Agreement at the Perfect Time
For the last several years, Ripple and the SEC have been engaged in a massive court battle. The two sides have faced off with the former coming out ahead several times. Moreover, these victories have been crucial developments such as the security status of its XRP token.
However, that has not stopped the government agency from requesting a $2 billion fine from the Ripple in a proposed settlement. Although the company thoroughly rejected the initial proposal, there have been some rumblings that an agreement has been reached.
If that is true, it may not have come at a better time. Both Ripple and the SEC have been rumored to have reached a settlement agreement as the XRP token has plummeted in value. Its losses today have only continued its 30-day trend of dropping more than 21% according to CoinMarketCap.
Also Read: Can Ripple (XRP) Hit $1 This Weekend?
Yet, the biggest question is regarding the validity of the rumored settlement. On Tuesday, both Ripple and the SEC had a final preliminary conference before the case presiding Judge NEtburn. Although closed-door meetings in the remedies phase are nothing new, it does act as a pre-settlement engagement.
The unknown is what makes the forecast for the meeting outcome all the more tricky. However, if a settlement were to be reached, there is no doubt that it would positively impact the XRP token. Moreover, it would do so at a time when the asset may need ti most.
Additionally, a settlement agreement this week would allow XRP to play a greater role in the impending Bitcoin Halving Event. Slated for April 19th, the Friday impact on the market should not be understated. Indeed, its impact should be felt across the market.