As a seasoned crypto investor with over a decade of experience navigating the ever-changing landscape of digital assets, I find myself remaining cautiously optimistic about the recent developments surrounding XRP and Ripple. The attorney Fred Rispoli’s reassurance regarding the potential SEC appeal is certainly comforting, but I won’t let my guard down just yet. While it’s true that the ruling on an appeal isn’t likely to come until 2026, the crypto market can be unpredictable and volatile in the short term.
In simpler terms, the legal battle between Ripple and the US Securities and Exchange Commission (SEC) regarding XRP has taken an unexpected turn. Ripple is seeking a postponement of the $125 million penalty payment to the SEC. However, well-known lawyer Fred Rispoli advises not to worry too much about the possible SEC appeal scheduled for October 7th. He also emphasizes that the future price fluctuations of XRP won’t be significantly influenced by the ongoing Ripple vs SEC lawsuit
Don’t Fret Over SEC Appeal in Ripple Lawsuit, Says Attorney
Lawyer Fred Rispoli reassured people that there’s no need for undue worry about a possible appeal in the SEC vs. Ripple case. He mentioned that if the court grants an appeal, the decision on this appeal won’t be made until 2026, thus limiting its immediate consequences
In simpler terms, Rispoli pointed out that the SEC’s recent legal actions against exchanges and securities charges have diminished the importance of an appeal. The Attorney further explained that if Ripple or XRP encounters obstacles now, it won’t be solely because of the SEC appeal. Instead, he implied that other factors will have a greater impact on the company’s future course
As a researcher following the developments in the crypto sphere, I want to reassure everyone about the recent speculations regarding the SEC vs. Ripple appeal. It’s essential to keep in mind that any ruling isn’t expected until 2026. The SEC’s ongoing lawsuits against various exchanges and its claims of multiple tokens as securities have significantly diminished the impact of this case on the crypto market. If Ripple and/or XRP fail to meet their goals during this time, it should not be attributed primarily to the SEC’s lawsuit. Instead, focus on the continuous advancements and innovations in the blockchain industry
— Fred Rispoli (@freddyriz) September 5, 2024
According to Rispoli, the chances of an SEC appeal in the XRP lawsuit have grown, as both parties have settled on the financial penalty’s terms. Under this revised settlement, the trust will hold a total amount equivalent to 111% of the financial judgment. The funds will not be disbursed to the SEC until either 30 days after the appeal deadline has passed or once the appeals process is finalized
Why Is XRP Price Not Reacting to Positive Developments?
Lawyer Bill Morgan has also weighed in on the minimal effect on XRP‘s value following major updates from Ripple. Although Ripple declared the integration of smart contract functionality into the XRP Ledger (XRPL), and plans to unveil its dollar-backed stablecoin, RLUSD, in the near future, the price of XRP has yet to exhibit a positive trend
As a researcher, I too have pondered upon the validity of applying the Howey Test to XRP. My skepticism stems from the question: can investors realistically anticipate returns derived from Ripple’s endeavors, taking into account the technological advancements and market changes experienced in recent times?
From what I’ve noticed, neither the announcement about Ripple adding smart contract functionality to the XRPL nor the upcoming release of RLUSD within a couple of weeks seems to have had any noticeable effect on the value of XRP. Regarding the Howey test, I find it debatable whether or not
— bill morgan (@Belisarius2020) September 4, 2024
As an analyst, I’m observing a persistent trend: the price of XRP lingers around $0.5535, dipping by approximately 3.5% over the weekly chart. Despite some significant announcements, this drop persists. Furthermore, on-chain analysis reveals an increase in short positions on XRP, leading me to speculate that there might be another potential decline of about 15% from the current levels
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2024-09-05 08:58