The ongoing SEC v Ripple case is currently on hold until April 2024, causing uncertainty in the US crypto market. The NASAA supports the SEC’s position and urges the court to reject Coinbase’s attempt to narrow the legal framework. Coinbase had filed a motion to dismiss the case, arguing that the SEC lacks jurisdictional authority. If the motion is denied, it will create more regulatory uncertainty. The XRP price is influenced by the developments in the case, with a return to $0.49 potentially leading to bullish momentum. However, a fall below $0.48 could result in further decline.
AI Sentiment: Negative