- The Ripple vs SEC saga continues to grip the crypto world.
- Experts have debated the SEC’s chances of winning an appeal.
- The SEC’s next move remains shrouded in mystery.
The courtroom drama of Ripple versus the SEC has become a gripping soap opera for the cryptocurrency world. With each new act, the plot thickens, leaving investors and traders alike on the edge of their seats. The latest chapter saw a partial victory for Ripple, but the curtain has yet to fall on this legal battle.
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The SEC’s next move is shrouded in mystery, a week having passed since Judge Torres delivered the final judgment. Silence from the regulatory body has ignited a wildfire of speculation, turning the crypto community into a cauldron of anticipation.
Experts Clash on Ripple and SEC Appeal Odds
At the center of this saga lies the question of whether XRP, Ripple’s digital asset, is a security. Dennis Kelleher, CEO of the financial reform organization Better Markets, has cast himself as the villain in Ripple’s story, confidently predicting a 90% chance of the SEC winning on appeal.
Kelleher claims the judge’s ruling unfairly favored sophisticated investors over retail buyers, a narrative he insists other courts have rejected. However, this view has been challenged by the hero of Ripple’s story, pro-XRP lawyer Bill Morgan. Morgan contends that Kelleher’s prediction is overly dramatic, pointing to the mixed rulings in the Binance and Terraform cases.
While Judge Rakoff in the Terraform case aligned with Kelleher’s perspective, Judge Jackson in the Binance case emphasised a distinction between institutional and retail investors, echoing Judge Torres’s decision in the Ripple case.
Armed with this analysis, Morgan suggests the SEC’s chances of a successful appeal are closer to a mere 10%.
XRP Bullish Signals Emerge
As the legal battle rages on, XRP’s price has been caught in the crossfire, forming a triangle pattern on technical charts. Adding fuel to the fire, crypto analyst Dark Defender has identified a bullish hammer candle on the monthly chart.
If XRP breaks free from its triangular cage, price targets of $1.00, $1.40, and $1.88 have been proposed. Currently trading at $0.5685 with a market capitalization of $31.8 billion, XRP has experienced a modest uptick in the past 24 hours.
The SEC’s potential appeal is still casting a long shadow over the cryptocurrency industry. The final chapter remains unwritten, and the fate of XRP hangs in the balance, dependent on both the legal plot twists, and the ever-changing moods of the market.
On the Flipside
- The SEC’s delay in announcing its next steps could be a calculated move to maintain pressure on Ripple and the broader crypto market.
- While technical analysis suggests a potential bullish breakout, XRP’s price history is marked by significant volatility, and current trends may not persist.
- The outcomes of the Binance and Terraform cases, while offering some legal context, do not guarantee a specific result in the Ripple appeal.
Why This Matters
The Ripple dispute is critical because it has ignited a sharp divide among experts over the SEC’s chances on appeal, with predictions ranging from near-certain victory to likely defeat. The outcome could set a key precedent for how securities laws apply to cryptocurrencies, directly impacting future regulations and the broader market.
To learn more about the future of Ripple and XRP after the SEC lawsuit, read here:
What’s Next for Ripple and XRP Now the SEC’s Lawsuit Is Over?
Curious about the recent surge in XRP’s price and its impact on the market? This article explores the data:
Is Interest in XRP Fading? Here’s What the Data Says
