XRP experienced a minor gain of 0.19% on Sunday, following a 1.09% increase on Saturday

XRP experienced a minor gain of 0.19% on Sunday, following a 1.09% increase on Saturday. However, for the week ending April 7, XRP closed 5.62% lower at $0.5944. The focus remains on the ongoing SEC vs. Ripple case.

On Sunday, April 7, there were no updates related to the SEC vs. Ripple case. Investors eagerly awaited Ripple's response to the SEC's opening brief, which argued for punitive penalties and a court order preventing Ripple from selling XRP to institutional investors. The SEC alleged continued violations of US securities laws by Ripple even after the December 2020 complaint. Ripple must file its opposition brief by April 22, with a redacted version due on April 24, addressing post-complaint conduct.

Considerations include Ripple's financial capability to pay penalties and the impact of a potential court order on its US business plans. US case law, particularly the Morrison vs. NAB case, may influence the outcome, potentially resulting in a lesser penalty if Ripple demonstrates that post-complaint XRP sales were outside the US. This could reduce the penalty from the cited $729 million, with courts possibly only considering proceeds from XRP sales to US institutional investors. Ripple must also prove that post-complaint sales didn't breach US securities laws to avoid prohibition from selling XRP to US institutional investors.

The uncertainty surrounding the case has influenced XRP's price trends, with the cryptocurrency trading below the $0.60 mark.