Ripple is optimistic about its lawsuit against the SEC. But Q4 report is not encouraging for XRP

Ripple Labs has released its fourth-quarter earnings report, revealing its confidence in the ongoing SEC lawsuit regarding the status of XRP. Despite the two-year legal battle, the report highlights Ripple's pride in its defense and states that the company feels more optimistic about the outcome than ever before.

Timeline of Xrp

As became known yesterday, the U.S. Securities and Exchange Commission officially recognized that the sale of LBRY Credits (LBC) tokens on the secondary market was not a case of selling unregistered securities. Amid the positive news, the LBC price surged more than 80% and at one point was up more than 280%.

The conclusion of the highly publicized dispute between Ripple Labs and the United States Securities and Exchange Commission (SEC) is drawing near, and investors are expecting that a positive verdict in the case against the financial regulator will have a substantial bullish influence on the price of XRP in the near future. 

The XRP price has dropped by $0.400093 in the past 24 hours, representing a fall of 3% as the market as a whole dips by only 1%. The current price marks a 0.5% in a week and a 15% gain in the last 30 days, with XRP doing very little in response to the news that Ripple has appointed a new President, long-time employee Monica Long.

The crypto world continues to closely follow the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). After both parties filed their respective summary briefings, the fate of Ripple and its XRP token remains uncertain.

In a piece of news that went undetected within the crypto community for a few days, the Southeastern European country of Montenegro has announced a partnership with Ripple. The country's prime minister, Dr. Dritan Abazović tweeted about the pilot project with Ripple already on January 18, 2023.

Key Points: As the Securities and Exchange Commission's (SEC) case against the payments network nears its conclusion, Ripple Labs has appointed a new president. Monica Long, the company's senior vice president and general manager, will be promoted to president, according to a new company blog post.

Recently, Dr. Dritan Abazović, who has been the prime minister of Montenegro since 28 April 2022, reported on his meeting with two executives from FinTech firm Ripple. Montenegro is a small country in Southeastern Europe, which is a part of the Balkans.

Ripple Labs has announced a new president as the U.S. Securities and Exchange Commission's (SEC) lawsuit against the payments platform nears a conclusion. In a new company blog post, Ripple says that Monica Long, the firm's senior vice president and general manager, will be promoted to president.

CryptoLaw founder John Deaton believes that the final and most aggressive push to shut down crypto might soon be witnessed in the wake of the White House's statement on mitigating risks associated with cryptocurrencies.

XRP is the sixth-largest cryptocurrency by market capitalization and has been on a roller coaster ride in the past year. With its price going up and down, many investors are wondering what the XRP price prediction will be and if can it reach the $5 mark this year.