Regardless of Hidden Highway Acquisition, XRP Struggles as SEC Disagrees on Enchantment Standing

[ad_1] Ripple introduced the acquisition of Hidden Highway for $1.25 billion yesterday (Tuesday), a transfer that stands as one of many largest offers within the digital belongings sector. This acquisition positions Ripple as the primary crypto firm to personal and function a worldwide, multi-asset prime dealer.

Regardless of this main milestone, XRP continues to face challenges in gaining upward momentum, with the decision of the continued Ripple vs. SEC lawsuit nonetheless unsure. Latest filings and responses have solely added additional confusion to the case.

XRP lawyer Invoice Morgan shared a troubling replace on social media. He identified a contradiction within the statements made by Ripple and the SEC. Ripple claims that the Enchantment and Cross-Enchantment are settled, however the SEC says the matter remains to be underneath attraction, Coingape reported.

XRP Lawsuit: Keener’s Proof Stays Unclear

Final week, Justin W. Keener, a person linked to the SEC’s allegations of unregistered penny inventory dealing, filed a request. This submitting claims to current essential proof that might influence the end result of the lawsuit. Nevertheless, the specifics of this proof stay unclear, inflicting widespread hypothesis. Specialists like Marc Fagel dismissed it as "spam."

Such an odd factor that Ripple say the Enchantment and Cross-Enchantment is settled however the SEC writes to Choose Torres that the matter remains to be on attraction. Settled however not fairly over. pic.twitter.com/XFAKJAzUUP

— invoice morgan (@Belisarius2020) April 9, 2025 You might wish to learn at financemagnates.com: Is XRP Going Up as Trump’s Tariffs Increase Discuss of World Monetary Shift?

Ripple and SEC Disagree on Enchantment

The SEC has rejected Keener’s submitting, labelling it improper. The SEC argued that the difficulty raised within the submitting, involving the courtroom’s abstract judgment and cures, is at the moment underneath attraction. Consequently, they said that the courtroom can not act on the matter at this stage.

The discrepancy between Ripple’s and the SEC’s statements continues to deepen the confusion surrounding the lawsuit’s standing.

XRPUSD Double High Might Drive Down

The XRPUSD H1 chart signifies a bounce at 1.61500, adopted by an upward transfer. Nevertheless, the value encountered robust rejection at 1.96750, consolidated, and confronted one other rejection.

As of now, the value is buying and selling under the consolidation help, suggesting that 1.96750 might act as resistance for a double prime. This sample might immediate intraday merchants to take quick positions, doubtlessly driving the value decrease.