XRP fell 1.99% to $0.5762 on Friday, after rising 0.88% the previous day. While SEC v Ripple is happening 
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The lawsuit did not directly affect demand for XRP, and investor attention was focused on the Coinbase case. In the Coinbase lawsuit, the SEC asked Judge Failla to examine the recent SEC v. Terraform Labs decision. The SEC argued that the ruling supports its opposition to Coinbase’s motion for judgment. However, legal experts like Mike Selig argued that the Terraform Labs ruling did not create cryptocurrency securities in secondary trading.
SEC Lawsuit Against Coinbase 
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The upcoming January 17th court date could dictate the SEC’s approach to the Ripple case. Meanwhile, April 2024 marks a critical milestone as Ripple and XRP face a legal battle that could shape their trajectory moving forward.
Legal duel with SEC and Zakinov
Ripple prepares for a pivotal hearing on January 11 in the Zakinov v. Ripple Labs case, brought by XRP holders alleging misinformation and sale of unregistered securities. A virtual session before Judge Phyllis J. Hamilton approves the class notice. The trial, initiated by plaintiff Vladi Zakinov, has been postponed due to various delays and is currently scheduled for April 15, 2024.
At the same time, Ripple continues to grapple with lawsuits from the SEC. The ongoing relief lawsuit focuses on potential penalties Ripple could face for its past sales of XRP to institutional investors.
Also Read: Bill Morgan Applauds Grayscale’s Strategic Move to Add XRP and AVAX to Digital Large Cap Fund
Legal timeline and future proceedings
The final trial is scheduled for April 23, 2024, and both the SEC and Ripple must complete required procedures before the court date. The SEC must file a report on the relief package by March 13, 2024, and Ripple has until April 12, 2024 to file its objections.
A major milestone in the legal battle occurred in July 2023 when a federal court ruled that Ripple violated securities laws through institutional XRP sales. However, the court differentiated between programmatic sales and other distributions, striking down the SEC’s securities violation charges.
Cryptocurrency Reaction
In the He pointed out that XRP investors were granted class status in a lawsuit alleging that Ripple sold XRP as an unregistered security. Morgan highlights the minimal support for Zakinov compared to Ripple’s massive support for the SEC and emphasizes that the XRP community perceives the SEC as its main enemy and is reluctant to have Ripple found guilty of selling unregistered securities.
Implications for the future of XRP
The outcome of this impending legal battle carries significant weight and could potentially impact the price trajectory of XRP, which currently stands at around $0.56.
As April 2024 approaches, stakeholders will be closely monitoring these legal proceedings, recognizing their potential to significantly shape the future direction of Ripple and the trajectory of XRP in the broader cryptocurrency landscape.