Important dates in 2023 for Ripple and the SEC lawsuit have been announced. Meanwhile, Ripple price continues to fall below vital supports, according to crypto analyst Filip L. That’s why the analyst says that XRP will likely close the year down 18%.
Dava’s 2023 calendar and expectations
In the Ripple and SEC case, the parties have completed summary resolutions, including appeals and responses. Proposals for the exclusion of expert testimony were also fully disclosed. However, according to James K. Filan, there are sealing disputes in connection with summary resolutions. It is not yet clear whether the disputes will be resolved before or during the motions. According to experts, this means that it most likely has no direct impact on pending decisions.
cryptocoin.com As you follow, the trial court, Torres, ruled on December 19 on the disputes over the sealing of summary resolutions, expert reports, and transcripts. At this stage, Ripple has a small win.
- Sealing motions will be submitted in January 2023, as summary resolutions are now fully informed.
- At the beginning of January, any proposal from non-parties must be submitted by 4 January 2023 to seal any summary decision material in accordance with the decision made on 19 December.
- On January 9, 2023, the parties are expected to file objections to the bagged motions to seal what was previously submitted.
- On January 13, the parties will submit the Daubert motions and accompanying appendices to the public dossier, with redactions consistent with the court’s sealing decision.
- On January 18, 2023, all parties and non-parties are expected to object to non-party signature motions, if any.
- James K. Filan predicts District Judge Torres will rule on expert motions and summary judgments simultaneously and in ‘one major written decision’. It says this will likely happen on or before March 31, 2023.
- According to Ripple CEO Brad Garlinghouse, it is difficult to predict exactly when the decision will come. However, he expects the case to be settled in the first half of 2023.
“Ripple sees traders have a hangover”
Ripple is still letting the dust settle at the latest data points on Friday, when the US PCE was announced. The week before that, US inflation figures fell. But now the PCE has pointed to an unchanging moment in inflation. This means that the Fed will want to raise more interest rates to reduce inflation. This means repricing the markets.
Thus, XRP fell below important levels such as $ 0.3616. It also made a new low for December last week. There is currently no real support in sight. So there is more downside with the Relative Strength Index (RSI) not coming anywhere near oversold. A bearish move towards $0.2875 is possible. This means a decrease of 18%. It also means that traders give up on the $0.30 psychological level.
With the last week of the year, no data points or Fed speakers lined up to comment on the markets. This opens a window of opportunity for the bulls to amplify the price action. In this case, with weak liquidity conditions, it is possible for Ripple to rise 13% with the 55-day Simple Moving Average (SMA) and 200-day SMA.