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Sujit Kumar
Sep 25, 2024
by Sujit Kumar

Ripple-SEC Lawsuit: Will an Appeal Prolong the Legal Battle?

Ripple-SEC Lawsuit

Table of contents

  1. Potential Appeal Could Extend Legal Drama
    1. Ripple's Strategy and Market Response
The long-running Ripple vs. SEC lawsuit is approaching a crucial point, with growing speculation that the U.S. Securities and Exchange Commission (SEC) may file an appeal. Experts suggest there is a 75% chance of the SEC appealing certain rulings, keeping the case alive and prolonging uncertainty in the crypto world. Despite the legal tensions, Ripple’s XRP is trading at $0.5866, although trading volume has dipped by 11% to $928.86 million.

Potential Appeal Could Extend Legal Drama

In a partial victory for Ripple, Judge Torres recently ordered the company to pay a $125 million penalty, significantly lower than the SEC’s original $2 billion demand. However, rumors of an SEC appeal emerged shortly after the ruling. If the SEC pursues an appeal, Ripple may respond with a counter-appeal, potentially extending the legal process into 2024.

Former SEC attorney James Farrell predicts a 75% likelihood of the SEC appealing the ruling on institutional sales, suggesting that the decision may depend more on administrative logistics than legal strategy. Such an appeal could significantly impact XRP’s regulatory status.

Ripple's Strategy and Market Response

Ripple has already secured a stay order for its penalty payment, indicating that both parties are preparing for an extended battle. While Ripple’s leadership remains confident, pro-XRP lawyer Fred Rispoli believes an appeal is highly likely. If Ripple wins the appeal, the SEC may be forced to return the penalty along with interest, adding another twist to the case.

With an appeal deadline approaching in October 2024, the legal outcome could have far-reaching effects on XRP and the broader cryptocurrency market. For now, XRP shows price volatility but retains positive market sentiment.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Ripple-SEC Lawsuit
Ripple-SEC Lawsuit: Will an Appeal Prolong the Legal Battle?
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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