Ripple's Legal Battle With US SEC Set To Continue With Trial On April 23

According to CryptoPotato, the ongoing legal dispute between Ripple and the United States Securities and Exchange Commission (SEC) over allegations of illegal XRP sales is set to proceed to trial on April 23. Ripple's Chief Legal Officer has confirmed that there will be no settlement before the trial, contrary to previous speculations. The legal conflict, which began over three years ago, entered its final phase when the SEC accused Ripple in December 2020 of illegally selling XRP in an unregistered security offering. Ripple has disputed these claims, arguing that XRP should not be considered a security and therefore does not fall under the SEC's jurisdiction. The trial, scheduled for April 23, will be decided by a federal judge. Some believe that Ripple has a better chance of winning, given that it secured three partial court victories last year. In addition to the start of the trial, Ripple is expected to respond to the SEC's request for penalties by April 22, with the regulator's reply due by May 6. Earlier this month, there were speculations that a settlement might be reached before the trial due to a final pretrial conference on April 16. However, Ripple's Chief Legal Officer, Stuart Alderoty, dismissed these rumors, stating that there was no final pretrial conference because the SEC had dropped the charges against Brad Garlinghouse and Chris Larsen. The resolution of this lengthy case could potentially have a positive impact on the price of XRP, particularly if Ripple emerges victorious. The price of the asset has seen significant increases following each of Ripple's partial victories in 2023. Conversely, a negative outcome could hinder the industry's progress and lead to the implementation of stricter regulations.