Exploring XRP’s price action as Ripple files Fair Notice defense

ambcrypto.com:

Ripple [XRP] is back in the spotlight courtesy of its recent filing regarding its lawsuit filed by the SEC. The new filing focuses heavily on Fair Notice defense, which has been part of Ripple’s argument since the beginning. But what is new this time?

Read Ripple’s [XRP] Price Prediction 2023-24

Ripple’s new filing is particularly noteworthy because it is from the United States Supreme Court. More importantly, a favorable ruling based on fair notice defense may affect the average person in case they are sued. This is because the filing states that people need some guidance regarding the law before they are sued.

Strong because it comes from the U.S. Supreme Court and states that regular-ish people like you and me need to have guidance and know what the law/rules are ( before we are sued). https://t.co/iNBhadl6Xz

— Jeremy Hogan (@attorneyjeremy1) March 3, 2023

The filing might allow Ripple some legal leverage against a potential scenario where the judiciary might go against the fair notice defense. The same defense might weigh heavily on the outcome of the final ruling. The timing of the ruling is still not clear, although Ripple CEO Brad Garlinghouse stated that it should be in 2023.

The lawsuit has undoubtedly hindered Ripple’s progress, as well as deterred investors. The impact is evident in XRP’s performance. It is one of the cryptocurrencies that has seen low demand and low trading activity. To put it into perspective, XRP has been hovering near the $0.37 price range since 25 February.

Source: TradingView

Low investor confidence in XRP is reflected in the weighted sentiment. The latter remained in bearish territory since