Ripple vs SEC Battle: What Could XRP Lose or Gain?
Highlights
- Ripple vs SEC battle extends to the end of 2025 as the agency continues with appeal.
- The SEC appeals the summary judgment on XRP sales by Ripple, Brad Garlinghouse and Executive Chairman Chris Larsen.
- XRP price loses upside momentum but investors anticipate a rally to $1.
Ripple vs SEC battle extends to the end of 2025 as the US Securities and Exchange Commission (SEC) decides to appeal district court rulings. Ripple plans to cross-appeal the arguments by the regulatory agency as it continues to threaten the crypto industry with regulation by enforcement approach. Meanwhile, traders brace for impact as XRP price moves sideways this week.
Ripple SEC Lawsuit Appeals Filed in the Second Circuit Court
The U.S. Securities and Exchange Commission finally filed its Form C related to appeals in the Ripple lawsuit. Form C is an appeal pre-argument statement required by the US Court of Appeals.
The appeal against Judge Torres’ ruling gets heated comments from Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty as the XRP army claimed the agency has missed the deadline. Moreover, the SEC is accused of missing the Form C filing deadline and back dating the document.
Notably, the SEC has appealed the summary judgment on Ripple’s XRP sales through crypto exchanges, distribution to employees and others by the firm, and XRP sales by CEO Brad Garlinghouse and Executive Chairman Chris Larsen.
The Gary Gensler-led government agency has started attacking the crypto market on secondary sales after recent losses in the lawsuit, Binance, and other lawsuits. Crypto executives including Stuart Alderoty slammed SEC and Gensler for their approach and overreach.
The secondary market for this ticket doesn’t make it a security—just like trading crypto doesn’t. Not every market is a securities market. pic.twitter.com/qTGlyIHrul
— Stuart Alderoty (@s_alderoty) October 19, 2024
How It Will Impact XRP Price?
While the long-running U.S. SEC v Ripple Labs lawsuit has impacted the XRP price rally, some experts believe the appeals will continue to make an impact for a few years. However, price predictions by analysts and recent developments by the company indicates otherwise.
Recently, Ripple has introduced crypto custody for banks and financial technology firms. Also, the company is near to launch its RLUSD stablecoin, with numerous partnerships for XRP Ledger adoption. XRP price analysis by CoinGape shows that the price can hit $1 after RLUSD’s launch.
The crypto industry is upbeat on approval of XRP ETF by the U.S. SEC as the companies roll out indexes and futures in regulated markets. However, Bitnomial XRP futures were challenged as the securities regulator claimed that the futures fall under the purview of both the SEC and the CFTC.
XRP price performance is up just 1% this week after the SEC filed its appeal in the Ripple lawsuit. The price is currently trading at $0.54, with a 24-hour low and high of $0.542 and $0.550, respectively. Furthermore, the trading volume has decreased further by 30% in the last 24 hours, indicating a lack of interest among traders.
- Fed’s John Williams Backs More Rate Cuts This Year Amid Labor Market Concerns
- Bitcoin Edges Higher as Fed Chair Jerome Powell Fails to Comment on Monetary Policy
- Flare Network Surpasses $43M in Bridged XRP, Expert Predicts Breakout to New ATH
- Bitcoin, Ethereum Drag Broader Crypto Market Lower Ahead of FED Powell Speech
- Breaking: Ripple Partners With Bahrain’s Fintech Bay in Push for RLUSD Adoption
- Pi Network Price Collapses as Analyst Proposes Turnaround Tweaks
- Solana Price Prediction as SOL DAT Company Plans 5% Supply Acquisition—Analyst Targets $1,300 Breakout
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
