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XRP in the Green Ahead of Ripple's First Pretrial Conference with SEC

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Mon, 22/02/2021 - 14:18
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XRP in the Green Ahead of Ripple's First Pretrial Conference with SEC
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Ripple-affiliated XRP remains the only cryptocurrency in the green amid a major market sell-off. It is up over five percent at press time.

Earlier today, the token rallied over 23 percent in only one hour to an intraday high of $0.65, but it has since erased most of its gains.

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Yet, unlike many major altcoins with double-digit losses, XRP has managed to stay above the flatline.

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Image by tradingview.com

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Ripple's first pretrial conference

The most obvious near-term catalyst is the first pretrial conference between Ripple and the U.S. Securities and Exchange Commission that is going to take place virtually at 10.00 a.m EST (5 p.m. UTC).

Such conferences are meant for both parties to outline the main issues of the case. Judges can also encourage them to settle their disputes out of court.

As reported by U.Today, Ripple and the SEC submitted a joint letter in which they stated that there were no prospects for settlement at that moment last week.

The discovery phase of litigation is expected to end no earlier than Aug. 16, according to the aforementioned letter.

The securities regulator sued the blockchain company on Dec. 22, triggering a more than 70 percent XRP crash within the same month.

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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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