What the SEC is Targeting in Its Appeal Against Ripple?
The post What the SEC is Targeting in Its Appeal Against Ripple? appeared on BitcoinEthereumNews.com.
The Ripple vs. SEC case is back in the spotlight as the U.S. Securities and Exchange Commission (SEC) moves forward with its appeal. This appeal mainly targets the $125 million penalty imposed on Ripple for its institutional sales. However, the XRP community is still uncertain whether the appeal will also cover other parts of the case, like programmatic sales mentioned in the July 2023 ruling. Phew, it just doesn’t end, does it? What should you expect in the week ahead? Let’s explore. XRP Takes a Hit After the SEC decided to appeal the ruling that classified XRP tokens as non-securities, the altcoin took a significant hit, wiping out all its gains from the past month. This turbulent situation gives XRP a fresh start as the Ripple vs. SEC saga continues. Investors are now closely watching the developments, eager to see how this high-stakes legal fight will affect Ripple and the wider cryptocurrency market. With so much at stake, understanding the appeal process and timeline is essential. Key Developments Fox Business journalist Eleanor Terrett revealed that the SEC has not yet filed its Form C with the Second Circuit Court, leaving Ripple and its supporters awaiting more details about the appeal. Legal experts expect that a ruling from the court will not happen until early 2026. Interestingly, despite the ongoing uncertainty, Ripple has a 14-day window to file a cross-appeal if it chooses. The XRP community remains hopeful that a settlement between Ripple and the SEC could be reached before the appeal concludes. XRP Market Analysis – What You Should Watch For Key factors influencing XRP’s performance include geopolitical events, Ripple news, and developments concerning the SEC. Since the SEC’s notice of appeal, XRP has faced intense selling pressure, resulting in a price drop of over 15%. At the time of…
Filed under: News - @ October 4, 2024 2:23 pm