Ripple has filed a cross-appeal against the SEC’s ruling in this case. Ripple is challenging the SEC’s interpretation of securities laws regarding XRP. The outcome of the appeal could have a significant impact on virtual currency regulation.
Ripple, the blockchain company behind the cryptocurrency XRP, has filed a cross-appeal with the Securities and Exchange Commission (SEC) as litigation continues. The move came after regulators appealed the district court’s decision, saying it contradicted longstanding Supreme Court precedent and securities laws. The court previously ruled that XRP itself is not a security when sold to retail investors, resulting in a partial judgment against Ripple.
In a cross-appeal, blockchain companies dispute the SEC’s assertion that XRP is a security, arguing that the interpretation of securities laws is ambiguous and could have significant implications for the entire crypto industry. I am doing it.
The SEC’s high-profile lawsuit against Ripple began in 2020, when the company accused Ripple of raising billions of dollars through unregistered sales of XRP. A court ruling in August ruled that tokens sold to institutional investors are securities and violate federal law.
The move is expected to further delay the resolution of the case, as Ripple has filed a cross-appeal, and could even lead to a trial. The outcome of the appeal could have a significant impact on the future of cryptocurrency regulation in the United States.
XRP is preparing for a significant price hike
Following this announcement, XRP is showing strong signs of an impending price explosion. Technical indicators and market sentiment suggest that the cryptocurrency could be headed for a significant rally.
Analysts are predicting a possible surge in the price of XRP that could significantly exceed its all-time high of $3.317. Some experts believe that a 500% increase from current levels is not only achievable, but may just be the beginning of an even bigger upward trend.
Source: Javon Marks
This bullish outlook is supported by a combination of factors including positive developments within the Ripple ecosystem and broad favorable market conditions. As the cryptocurrency market continues to mature and gain mainstream acceptance, XRP’s growth potential appears endless.
