Ripple vs. SEC: Negotiation Only After Bitcoin (BTC) Halving – What Does That Mean for XRP Price?

It seems that Ripple and the Securities and Exchange Commission (SEC) will only be available for further negotiations in the second quarter of 2024, and thus only after the Bitcoin (BTC) halving. So what could this mean for the XRP price action?

Timeline of Bitcoin, Xrp

Recently, crypto analyst Ali Martinez issued a warning about Bitcoin's potential price dip to $20,590, based on the UTXO Realized Price Distribution (URPD) metric. This report will delve into Martinez's insights and provide a comprehensive explanation of UTXO and URPD. UTXO stands for Unspent Transaction Output, a fundamental concept in Bitcoin's blockchain.

As discussed in prior articles, the Securities and Exchange Commission (SEC) and Ripple (XRP) have been fighting it out in court over the last few years regarding XRP's status as a potential security.

ARK Invest, led by Cathie Wood, in collaboration with 21Shares, has submitted applications for two futures exchange-traded fund (ETF) products centered on Ether (CRYPTO: ETH) and Bitcoin (CRYPTO: BTC). This move places them among a growing number of firms eager to introduce similar offerings.

Whale Alert, a cryptocurrency data tracker, reported that millions of XRP had been transferred in recent hours. According to Whale Alert, 29,300,000 XRP (29.3 million) were transferred from an undisclosed whale wallet to the Bitstamp crypto exchange.

US Federal Reserve (Fed) Jerome Powell spoke at the annual Jackson Hole Economic Symposium, which has significantly pressured the Bitcoin price. Consolidation has been the new normal for BTC over the past few weeks, but with September around the corner, macroeconomic events are likely to exercise renewed influence.

Pantera Capital analysts have released a new report examining the outlook for Bitcoin (BTC) price growth. They suggest that the price of the cryptocurrency will rise to as much as $148,000 by mid-2025.

Renowned XRP community legal expert Fred Rispoli has shed light on key factors that strongly suggest the SEC will not pursue a trial against Ripple's top executives, CEO Brad Garlinghouse and Executive Chairman Chris Larsen. Rispoli's insights provide compelling arguments that challenge the feasibility of the impending trial.

JPMorgan Chase &. Co. (NYSE: JPM) analysts say the decline in long positions in the Chicago Mercantile Exchange's (CME) Bitcoin (CRYPTO: BTC) futures might be nearing its conclusion.

Bitcoin (CRYPTO: BTC) moved lower, but the cryptocurrency prices remained above the $26,000 level on Friday. Ethereum (CRYPTO: ETH), also recorded losses, but traded above the key $1,600 mark this morning.

Bitcoin marginally declined during Friday's session, concurrent with the ongoing Federal Reserve symposium in Jackson Hole. The Chair of the Fed, Jerome Powell will be speaking at the annual meeting, and providing guidance on the upcoming policy decision. Ethereum also consolidated today.