Ripple SEC Case: Ex-SEC Sees Agency’s Advantage In XRP Lawsuit Appeal

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As a seasoned researcher with years of experience delving into the intricacies of financial regulation and the crypto market, I find myself intrigued by the ongoing saga of the Ripple SEC case. My professional journey has taken me through the labyrinthine world of legal battles surrounding digital assets, and this case is no exception.

There’s been increasing interest surrounding the Ripple SEC case, as people wait to see if the U.S. Securities and Exchange Commission (SEC) will file a last-minute appeal in the XRP lawsuit. This potential move could prolong the ongoing legal dispute in the digital assets sector. Meanwhile, former SEC lawyers suggest that such an action by the SEC might provide them with certain advantages in the XRP court case.

Ex-SEC Highlights Agency’s Benefit In Ripple SEC Case

In a recent post on platform X, FOX Journalist Eleanor Terrett stated that some insiders within the U.S. Securities and Exchange Commission (SEC) believe the decision on XRP‘s programmatic sales was flawed. Subsequently, former SEC attorney Marc Fagel voiced his apprehensions regarding Judge Torres’s ruling in the Ripple vs. SEC case, which was made public in July 2023.

In agreement with the perspectives of SEC insiders as mentioned by Terrett, he posits that while the decision may have its flaws, the doubt surrounding the success of an appeal has made the agency cautious. It’s worth noting that the main point of contention is the absence of proof from the SEC to demonstrate that Ripple’s promotional materials were indeed shown to buyers. He underscores this as a critical element in the agency’s case.

In the absence of such a connection, as the judge points out, the SEC’s assertion that investors anticipated profits from Ripple’s activities appears less robust. This decision has ignited debates and conjectures suggesting that the agency’s case might not withstand scrutiny in an appeal.

While another former SEC lawyer, James Farrell, points out one significant advantage in the XRP lawsuit against the agency, he emphasizes that the appellate court follows a “de novo” review standard. This means they can reexamine the evidence from scratch without being bound by Judge Torres’s previous findings.

This new critique might offer the chance for the agency to once more introduce their previous, dismissed testimony. Essentially, the Securities and Exchange Commission (SEC) could potentially capitalize on this opportunity within the appellate court, which could significantly strengthen their position in the case.

Investors Keeping Close Track Of XRP Price

As a crypto investor, I’ve noticed varying perspectives within our community regarding the potential impact of the ongoing Ripple SEC case. To provide some context, Brad Garlinghouse, Ripple’s CEO, and Stuart Alderoty, the CLO, seem optimistic that the “XRP case may be closed” and suggest that the agency might choose not to proceed with any further appeals.

Nevertheless, there’s a growing expectation among the community that the U.S. Securities and Exchange Commission might file an eleventh-hour appeal, potentially stretching the case even longer. As a result, investors are closely monitoring the price of XRP to gauge market sentiment as October 7 approaches, since this could provide insights into how the situation may unfold.

As I delve into my analysis during this writing session, it’s worth mentioning that the value of XRP had dipped approximately 2.4%, settling at $0.6241. Interestingly, the trading volume experienced a significant surge of around 58%, reaching an impressive $2.64 billion.

As a crypto investor, I’ve noticed an exciting surge in XRP prices lately. There could be multiple factors at play that have helped it break through significant resistance levels. Moreover, optimistic remarks from Ripple executives, such as President Monica Long, have undeniably added to the positive vibe surrounding the coin. For instance, her recent discussions on Ripple’s stablecoin RLUSD, XRP Ledger, and other vital aspects of the company have certainly ignited enthusiasm within the crypto community.

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2024-09-30 18:40