XRP is back in the spotlight as legal problems continue to confuse. Even though Ripple CEO Brad Garlinghouse said he felt good about winning the case, the SEC still hasn’t officially ended its appeal. This keeps the lawsuit in traders’ minds and adds to the ongoing concern. On top of that, Ripple’s Chief Technology Officer, David Schwartz, had to speak up to calm people down after a bug involving 10,000 XRP caused worry in the community.
ETF Buzz and Market Waiting Game
At the same time, excitement around a possible XRP exchange-traded fund (ETF) is building, bringing both hope and tension. Many investors are now watching closely for what the SEC might say during its meeting on May 8. With legal issues still hanging over Ripple, a recent wallet glitch, and growing ETF interest, XRP is now in an important spot—what happens next could shape where the token goes from here.
XRP Falls Again Amid Legal Concerns
XRP’s price fell again on Saturday, slipping by 0.97% to close at $2.1882, after a smaller 0.14% drop on Friday. The fall came as the overall crypto market weakened and investor concerns grew over the SEC’s delay in officially ending its appeal in the Ripple case. The wider crypto market also dropped, with total value dropping by 1.07% to $2.94 trillion. At the time of writing, XRP was trading around $2.19, down 0.72% in the last 24 hours. Source: XRP Liquid Index (XRPLX)
The continued delay has added more pressure on Ripple and XRP news. With attention now shifting to the SEC’s upcoming closed-door meeting on May 8. Many see it as a possible key moment in the lawsuit. There’s growing optimism that this meeting could lead to the official end of the SEC’s challenge to Judge Torres’ decision, which found that Ripple’s programmatic XRP sales didn’t break securities laws.
Ripple Lawsuit Uncertainty Deepens as SEC Stalls
Despite earlier indications from Ripple CEO Brad Garlinghouse that the SEC was ready to dismiss its appeal, the official process remains unfinished. Garlinghouse clarified that an agreement had been reached with SEC staff, but the Commission still needs to vote. While an agreement was made to dismiss the case and move forward, the Commission has not yet cast its vote.
This ongoing legal uncertainty has caused hesitation in the market, with traders awaiting clearer signals before making big decisions. The unresolved SEC lawsuit continues to affect sentiment around Ripple and the broader regulatory environment for crypto in the United States.
Final Thoughts
XRP is at a critical point, facing both legal challenges and growing interest from investors. While Ripple hopes for a positive outcome in its lawsuit with the SEC, the delays and uncertainty keep traders cautious. The SEC’s meeting on May 8 is seen as a potential turning point. At the same time, there is excitement around the possibility of an XRP exchange-traded fund (ETF), but the legal issues still affect the market. With XRP’s price reacting to these developments, the next steps in the lawsuit will be key in deciding XRP’s future. As things unfold, traders await more apparent signs to guide their decisions.
