Judge Analisa Torres has recently denied the SEC’s interlocutory appeal to the ruling made on July 13, in a turn of events that could have significant implications for the future of XRP. The trial has been scheduled for April 24, 2024, and Judge Torres’ declaration that XRP is not a security could potentially lift a major regulatory cloud over the asset.
This decision has sparked an optimistic outlook for XRP, as it takes into account a surge in demand driven by increased adoption by businesses and financial institutions. Additionally, the overall bullish crypto market and the highly anticipated Bitcoin halving event, set to take place in April 2024, could trigger a bull run that benefits XRP.
However, despite these favorable conditions and the advantages of XRP, such as its low fees, there are still potential challenges to consider. Bard, a prominent expert in the field, has cautioned about the risks associated with a negative lawsuit outcome affecting Ripple’s XRP sales and the slow pace of institutional adoption.
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