Ripple is pressing the court to reopen the pathway for private sales of XRP in an effort to influence overall crypto market regulations and facilitate an eventual IPO.
If successful, the clarification from the court could establish the legal foundation for Ripple to privately transact XRP and contribute to investor confidence and the establishment of a public market for the cryptocurrency.
While the timeline for this development remains uncertain, any delays or unfavorable outcomes could prolong Ripple's legal battle with the SEC until 2027.
XRP's price has climbed over 20% in the past week, sparking speculation of further upward movement and a potential strong bullish breakout pattern known as Wave 5.