Ripple Case Assessing the Chances of an Appeal

As the deadline for the U.S. Securities and Exchange Commission’s (SEC) appeal in the Ripple


$
0.589103
case approaches, legal experts estimate a 75% chance of the SEC filing an appeal. However, the regulatory body remains indecisive on the matter. Meanwhile, Ripple executives have stated that they believe the case has concluded and do not plan to appeal.
Contents
SEC’s Appeal Deadline Approaches
Expert Opinions on the Ripple Legal Process
XRP Price and Market Expectations
SEC’s Appeal Deadline Approaches
The SEC has a 60-day window to file an appeal, which will expire on October 7. The Commission’s recent application regarding “
cryptocurrency
securities” in the
Binance
case and the audit session in the Financial Services Committee indicate a lower likelihood of the SEC appealing the court’s decision.
SEC Chairman Gary Gensler has clarified his intent to target secondary market sales of cryptocurrencies, arguing that NFTs are securities. This stance is supported by penalties imposed on Flyfish Club for unregistered
NFT
sales and a Wells notice directed at the NFT marketplace Opensea.
Expert Opinions on the Ripple Legal Process
Ashley Prosper, an expert in the Ripple Labs case, stated that the SEC is unlikely to contest the classification of XRP as a security. “The issue I see is whether they want to continue presenting cryptocurrencies in secondary market sales as securities. I think they will appeal just for this reason,” she said.
However, former SEC attorneys Marc Fagel and James Farrell are confident that the SEC will indeed file an appeal in the Ripple case. Farrell predicts a 75% chance of the SEC appealing its liability sections.
XRP Price and Market Expectations
This week, the price of XRP hovers around $0.58, with trading volume increasing by 14% in the last 24 hours. Analysts expect a 25% rise in XRP’s price in October, potentially reaching $0.75, but emphasize that the price must first surpass lower levels.
XRP’s price could reach $1 by 2025, supported by historically strong fourth-quarter performance. A broader rally in Bitcoin


$
63,528
is also anticipated to help elevate the price to $2 by 2025.
Speculation has arisen within the community following Ripple’s Chairman Chris Larsen transferring millions of dollars in XRP prior to the Ripple Swell event. Recently, XRP shows potential for growth depending on market dynamics. Observers are closely monitoring the outcomes of the SEC lawsuit and overall market conditions.
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Disclaimer:
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.