Pro Ripple attorney predicts SEC vs. Ripple lawsuit could end on July 31

• Ripple could see the end of the SEC’s lawsuit against the firm as early as July 13, according to Attorney Fred Rispoli. 
• Whales distributed their XRP holdings while retail traders accumulated, buying the recent dip in the altcoin. 
• XRP is hovering close to $0.42 on Monday. 

The Securities and Exchange Commission (SEC) vs. Ripple (XRP) lawsuit could end as early as July 13 or by July 31, according to pro-crypto attorney Fred Rispoli. The lawsuit has been one of the key market movers for the altcoin’s price since 2020. On-chain metrics show whales are distributing their XRP holdings while small wallet investors buy the altcoin. 

XRP trades above the $0.42 support on Monday, July 8. 

Daily Digest Market Movers: Ripple lawsuit could end soon, according to Attorney Fred Rispoli

• Attorney Fred Rispoli commented on the recent SEC vs. Ripple lawsuit filing, in which the payment remittance firm filed a supplemental authority letter referring to the Binance lawsuit. 
• Judge Amy Berman Jackson cited Judge Torres's SEC vs. Ripple ruling on the secondary market sales of cryptocurrencies. 
• The SEC responded to Ripple’s letter, and XRP holders are awaiting a ruling on the lawsuit. 
• Attorney Rispoli believes that the SEC vs. Ripple lawsuit could end as early as July 13, with Judge Analisa Torres’ ruling. 

• Alternatively, the ruling could come by July 31.

• The ruling is expected to address the issue of a settlement/ fine to be imposed on Ripple for its alleged securities law violation and whether XRP is a security or not. 
• On-chain metrics show that XRP supply distribution has changed since July 1, with whales shedding their holdings while small investors buy the dip, as seen on Santiment. 

XRP supply distribution 

• Accumulation by retail investors could help Ripple resist a mass sell-off.

Technical analysis: XRP hovers around $0.42

Ripple has been in a state of decline since March 11, dropping from its local peak of $0.7440 to its July 5 low of $0.3823 in its downward trend. Ripple has since recovered from the decline, up to $0.4352 on Monday. 

The Relative Strength Index (RSI) reads 38.33. After briefly dipping into the oversold region under 30, XRP has recovered. XRP could rally toward the Fair Value Gap (FVG) between $0.4697 and $0.4760, as seen in the XRP/USDT daily chart below. 

XRP/USDT daily chart 

In case of a daily candlestick close below $0.4335, the bullish thesis could be invalidated. XRP could then sweep liquidity at the July 5 low of $0.3823.