XRP News: Why March 22nd Could Change Ripple’s Fate

It promises to be a crucial week for Ripple and XRP. Under the court’s amended schedule, the SEC must file its opening brief regarding the sanctions by March 22.

The SEC will push for strict punishment to prevent crypto companies from violating Section 5 of the Securities Act of 1933. In July 2023, Judge Torres ruled that Ripple had violated this section by selling unregistered securities (XRP) to institutional investors.

What kind of punishment will Ripple receive?

The initial pleading on the sanctions could provide insight into the possible punishment that Ripple could face. Ripple faces severe punishment if it is proven that the company continued to violate Section 5 of the Securities Act after the indictment.

However, if other favorable developments emerge for Ripple, it could significantly increase the price of XRP. On the other hand, if the outcomes are negative for Ripple, it could have a damaging effect on the price.

Recent price developments

The XRP price has recently made a notable move. Just a week ago, the price registered an impressive 15% increase, reaching a peak of $0.74. However, this upward trend was short-lived; the price has since undergone a significant decline.

The entire crypto market has been confronted with a major correction, and XRP has not been spared. This morning the price even dropped to a low of $0.595. At the time of writing, the price has recovered slightly and is at $0.61.

Conclusion

The XRP price appears to be extremely volatile, a pattern that is expected to continue in the coming week, especially as an important decision in the lawsuit between Ripple and the SEC approaches. This crucial moment could strongly influence XRP’s price movements, with investors closely monitoring developments.

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