Ripple Vs SEC Lawsuit: Will There Be An Appeal By US SEC in XRP Case?

The latest developments regarding the Ripple vs SEC lawsuit have indicated deliberations on an appeal against Judge Torres’ rulings in the XRP case. An attorney argues that the U.S. Securities and Exchange Commission (SEC) will not reveal its decision until the last minute. In addition, former SEC lawyers claim an appeal filing by the regulator is most likely.

US SEC To File Appeal in Ripple Lawsuit

Former SEC lawyers Marc Fagel and James Farrell seemed most confident about an appeal by the U.S. Securities and Exchange Commission in Ripple vs SEC case. They assert that anything less than an appeal will be bad for the government agency. The agency still has two weeks to file the appeal.

Tensions continue to grow in the XRP community as the appeal deadline gets closer, with experts upbeat on potential appeal. However, attorney Fred Rispoli believes the SEC is still unclear about whether to appeal or not. Also, he suggested that any announcement or filing might come close to the deadline.

Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty have denied any intention to appeal in Ripple vs SEC lawsuit. The company has also obtained a stay order from the court, holding the $125 million in penalty payment to the agency until appeal.

The SEC filing in the Binance case has hinted at no appeal against Judge Torres’ summary judgment on XRP programmatic sales. Notably, the judge did not issue a ruling on secondary sales, but stated that “programmatic buyer stood in the same shoes as a secondary market purchaser.”

Should Elon Musk Integrate XRP on X Payments?

Fred Rispoli said Elon Musk has missed an opportunity to poke the SEC in the eye. Musk should enable payments on X, allowing every crypto such as XRP that the SEC has failed to label a security in the court.

“Legally protected but afraid. Unexpected and atypical for Elon,” Rispoli added talking about the scrutiny and legal aspects of crypto.

The SEC seeking sanctions against Elon Musk for failing to appear in court for testimony in a probe over his $44 billion acquisition of Twitter. The agency could reprimand Musk for defying a lawful administrative subpoena.

Ripple Transfers Spark Speculations Amid SEC v Ripple Lawsuit Appeal

Ripple recently transferred 200 million XRP, which has sparked speculations amid the SEC Ripple lawsuit appeal. Many in the XRP community continue to wonder if these transfers may be related to the lawsuit. Meanwhile, Ripple Chairman Chris Larsen has also transferred 88 million XRP since the start of the month, fueling speculations about what might be really going on between the crypto firm and the Commission.

With the October 6 deadline drawing closer, tensions will likely heighten as the community awaits to see what comes next. XRP price has also remained stagnant, as the crypto looks undecided at the moment. The SEC appeals could determine the token’s future trajectory.

Crypto analyst Zach Rector also mentioned other factors that could affect the XRP price while stating that the SEC Ripple case will be “finally over” if there is no appeal. He alluded to the Ripple Swell event, which he suggested could also provide bullish momentum for the XRP price.

The analyst said he would be watching for the Ripple Stablecoin (RLUSD) to be launched sometime between now and the Ripple Swell event. Meanwhile, he speculated that there could be an XRP ETF announcement at the event and more partnerships relating to tokenization on the XRP Ledger (XRPL).