“The SEC lost on all material points, so they appealed. Today, Ripple announced that it would remain on the agenda, including its argument that there could be no “investment contract” without the mandatory rights and obligations contained in the contract. A cross-appeal was filed to prevent this. ”
While discussing the SEC’s appeal, Alderoti acknowledged that the SEC will likely challenge the ruling on XRP’s programmatic sales, stating:
“Last year, the SEC unsuccessfully attempted an early appeal of a ruling that Ripple’s XRP sales on exchanges and Ripple’s other XRP distributions to employees, developers, and others are not securities. will probably go after these again – and they will lose on both again.”
However, Alderoti emphasized that the SEC will not challenge the ruling that XRP itself is not a security. Referring to the recent filing of the Binance lawsuit, Alderoti said:
“Importantly, the SEC has already said that it will not appeal the ruling that XRP itself is not a security. That’s the law, and an appeal on these other issues won’t change it.”
Ripple CEO Brad Garlinghouse commented:
“With today’s cross-appeal, we look forward to sealing the SEC’s fate and finally putting an end to the SEC’s enforcement regulatory agenda. Ripple is an industry leader in the first court round; I look forward to being in the lead again this round.”
XRP Price Trend: What Happens Next?
XRP is likely to remain below $0.55 as investors await SEC and Ripple court filings. Continued speculation regarding SEC appeals and court filings will impact demand for XRP. Price action will likely depend on the legitimacy of the SEC’s appeal of XRP’s programmatic sales ruling.
If the SEC presents a strong case for appeal, XRP could fall towards $0.50. Conversely, if the SEC drops the appeal, XRP could rise towards $1.00, reflecting price changes following the programmatic sales ruling.
