XRP Price Eyes 50% Drop While Ripple vs SEC Case Drags On

Ripple vs SEC case: Latest Developments

As CoinChapter reported in the previous lawsuit review, Ripple labs opposed the Securities and Exchange Commission’s (SEC) motion for summary judgment.

To support Ripple’s cause, Cryptillian Payment Systems, an online digital wallet service that uses XRP for transactions, asked the court to file an Amicus Brief.

Cryptillian standing up for Ripple

Cryptillian appealed to Judge Torres, noting the adverse consequences for their company should SEC win the summary judgment motion.

XRP Price Prediction

Upside move is not likely to happen before the end of 2022. The declining trading volumes on the daily chart back the short-term bearish prognosis.

Next likely support would stand at $0.22, or 50% lower than the current value. The token price is influenced by the Ripple vs SEC case, which is still ongoing.