Settlement Or Appeal? What’s Next In XRP Lawsuit?
XRP News: Ripple’s native crypto, XRP price is on a major upswing after receiving a partial clearance from the U.S. District Judge against U.S. Securities and Exchange Commission (SEC). However, legal experts believe that Ripple’s win against the commission might be short-lived as it can face appeal ahead.
A Tough Road For US SEC Ahead?
Charles Gasparino, Senior journalist at FOX Business stated that it has a piece of bad news for the XRP pumpers. He stated that Ripple will need to pay money on the part of the case it lost. He added that he interviewed several securities lawyers recently and they all believe that the part Ripple won stands on appeal.
Read More: Will Uptrend Continue for XRP Price?
Meanwhile, Ripple CEO Brad Garlinghouse in an interview with Bloomberg suggested that the US SEC would be facing a long process in order to appeal against the court’s decision. He further dismissed the institutional sales part of the ruling calling it the smallest piece in the XRP lawsuit.
XRP Lawsuit Ruling To Be Challenged?
John Reed Stark, Former Chief of the SEC Office of Internet Enforcement shared his take on the summary judgment in the XRP lawsuit. He mentioned that the trial order in the XRP lawsuit is a partial summary judgment from a single district court judge and the decision is not a binding precedent on the other courts.
He highlighted that the judgment in the XRP lawsuit is likely to be appealed. The Unprecedented nature of the decision might face an interlocutory appeal. Stark suggested that the Second Circuit would likely act to hear the appeal.
Read More: Court Rejects Ripple’s Fair Notice Defense? What’s The Truth
As per the former SEC executive, the Ripple case conflicts with the SEC case against Telegram. In the Telegram case, the Judge linked the purchasers’ expectation of profits with the efforts of the Telegram team. However, this seems contradictory to the Ripple court’s analysis.
He pointed out the XRP lawsuit ruling has created a kind of confusion on multiple fonts. However, the US SEC is expected to appeal the Ripple decision to the 2nd circuit. Then the 2nd circuit court might overturn the district court’s ruling related to “programmatic” and “other sales.”
- Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy
- XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization
- SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown
- Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility
- October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
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.
