Investing.com – The U.S. Securities Commission’s (SEC) lawsuit has dragged on for more than two years. The authority accuses the company of having sold unregistered securities for a value of 1.3 billion dollars.
The trial may be in its final phase, as both sides have filed requests for abridged proceedings and therefore court decision-making.
Attorney John Deaton asked the XRP community about the next step. Nearly 60 percent of the 18,000 survey participants believe the SEC and Ripple will reach an out-of-court settlement. The remaining more than 40 percent, however, assume that the authority will stick to a court decision.
If it is the first case, the case can be closed no later than March 31, as attorney James Filan said. Indeed, Judge Torres has until that date to render a decision under the expedited procedure requested.
John Deaton no longer believes in the possibility of an amicable settlement. If the SEC was interested in a settlement, it would have occurred before the documents were due for release in the context of Hinman’s speech. One would expect the details of Hinman’s calling as raw material in 2018 to be negative for the SEC and its complaint. Obviously, this is not the case.
Ripple price technical benchmarks
Ripple is currently trading at one at $0.3451, with a gain of 1.98%, while the weekly loss stands at -1.91%.
The cryptocurrency tested the cycle low at the $0.3200 area today, after resistance at the 23.6 percent Fibo retracement of $0.3649 could not be breached sustainably. However, a recovery may have already started, but this must exceed the Fibo retracement of 23.6 percent and the 55-day MA of $0.3727 based on the daily closing price. Only then can the threat of further losses be ruled out in the short term.
Then the focus would shift to the 38.2% Fibo retracement of $0.3926 and the 50% Fibo retracement of $0.4149.
By Marco Oehrl