SEC vs. Ripple lawsuit likely enters final pretrial conference, XRP holders await settlement news

• SEC vs. Ripple lawsuit is likely to enter its Final Pretrial Conference on April 16, under Judge Sarah Netburn. 
• XRP holders and proponents anticipate settlement talks between the two parties. 
• XRP price is struggling to overcome resistance at $0.50, down to $0.48 on Tuesday. 

Ripple (XRP) and Securities and Exchange Commission (SEC) are gearing up for the Final Pretrial Conference on April 16, at a New York court. The legal calendar shows the date and time, therefore the conference is planned and may proceed as scheduled. 

XRP is struggling with resistance at $0.50 and the altcoin’s price is down to $0.48 on April 16. 

Daily digest market movers: SEC vs. Ripple Final Pretrial Conference could influence XRP price

• SEC vs. Ripple lawsuit proceedings have acted as a catalyst for XRP price since 2020. 
• The latest development is the Final Pretrial Conference, mentioned in the legal calendar of a New York court, at 2:00 PM on April 16. 
• While XRP holders expect a settlement between the two parties, it is unlikely if the regulator decides to appeal the XRP Programmatic Sales ruling of Judge Analisa Torres. 

Civil and criminal proceedings calendar

• On July 13, Judge Analisa Torres ruled that XRP is a non-security in its secondary market sales on exchanges. This programmatic sales ruling is likely to be appeal by the SEC. 
• Ashley Prosper, XRP proponent and crypto influencer shared his insights on why a settlement between the two parties is likely, in a recent tweet on X. 

• It is important to note that the Final Pretrial Conference may or may not lead to a settlement in the lawsuit. 

Technical analysis: XRP struggles to recoup from drop below $0.50

XRP sustained above the $0.50 level for nearly six months. The altcoin flipped $0.50 support to resistance on Saturday, April 13. XRP could sweep liquidity below $0.4717, the 23.6% Fibonacci retracement level of the altcoin’s drop from April 9 top of $0.6431. 

The Moving Average Convergence Divergence (MACD) indicator supports a thesis of further correction in the altcoin, since the momentum is negative. 

XRP price could find support at the April 13 low of $0.4188 and weekly support level at $0.4117, if the altcoin continues to bleed. 

XRP/USDT 1-day chart 

A daily candlestick close above $0.50, a resistance level that is significant to XRP, could invalidate the bearish thesis. XRP price could surge to $0.5310, the 50% Fibonacci retracement level of the decline from April 9 local top at $0.6431. 

The altcoin faces resistance at the psychologically important $0.60 level, in its path to the $0.6431 target.