A former SEC attorney recently said this about the SEC’s opinion on the programmatic sales ruling:
“The SEC will ‘probably’ appeal Judge Torres’ July 2023 ruling on XRP programmatic sales in the Ripple case, for one reason: ‘There[the SEC’s]We all believe in our hearts that this decision is wrong, not good law, and should be appealed.”
In August 2023, the SEC filed an interlocutory motion seeking permission to appeal the Programmatic Sales decision. However, Judge Torres denied the motion in October 2023, forcing the SEC to wait until the final ruling to appeal.
XRP Price Trend: What Happens Next?
XRP could remain below the $0.55 level as investors await the SEC’s filing statement. Ripple may also make cross-appeals, which could further increase uncertainty. Continued speculation regarding SEC appeals and court filings will impact demand for XRP.
If the SEC appeals the programmatic sales ruling, XRP could fall towards $0.50. Conversely, if the SEC withdraws the appeal, it could move towards $1.00, reflecting the price movement after the Programmatic Sales ruling.
