- The ongoing legal battle between Ripple and SEC has attracted major attention in the crypto world.
- Speculation surrounds the SEC’s potential appeal regarding the Programmatic Sales decision.
- An expert claims SEC’s chances of winning the appeal are at a significantly high probability.
The Ripple vs. SEC legal battle continues to keep the crypto community on edge, as uncertainty looms over potential appeals. Discover the key developments and expert opinions driving this case.
Ripple’s Legal Stand-Off with SEC: Current Status
Despite several victories in the legal scuffle with the SEC, Ripple finds itself still embroiled in the conflict. The ambiguity surrounding the SEC’s potential appeal of the Programmatic Sales ruling leaves XRP under pressure. Even nine days post-judgment, the SEC has yet to issue a clear statement, fueling intense debates within the crypto community.
Better Markets CEO Weighs In On SEC’s Appeal Prospects
Dennis Kelleher, CEO of Better Markets, confidently asserts that the SEC has a 90% chance of winning an appeal against Ripple. Kelleher criticized the ruling, emphasizing that Judge Torres’s decision overturned a long-standing 90-year precedent by favoring sophisticated investors over less sophisticated ones. He strongly believes that other judges will align against Ripple’s current legal standing.
Ripple’s Counter-Argument: Less Than 10% Chance for SEC’s Success
In stark contrast, Ripple’s legal team downplays the SEC’s potential for success in an appeal. Bill Morgan, a prominent attorney for Ripple, challenged Kelleher’s assertions, citing how Judge Torres’s differentiation between institutional and individual investors has not been universally rejected. Morgan pointed out that even Judge Jackson, presiding over the Binance case, aligned with Judge Torres’s approach.
XRP’s Market Performance Amid Legal Uncertainty
While legal battles simmer, market analysts are keeping a close watch on XRP’s price movements. The token’s charts suggest the possibility of a breakout from a multi-year triangular formation. A notable observation by analyst Dark Defender points to the formation of a bullish hammer on the monthly charts. This formation could signal a potential surge in XRP’s value to $1.00, $1.40, and possibly $1.88.
Conclusion
As the Ripple vs. SEC case unfolds, it remains a focal point of discussion in the crypto industry. Investors are advised to remain vigilant as the case progresses, with both sides presenting strong arguments. Whether XRP will witness significant market movements or face further legal hurdles, the outcome will undoubtedly have substantial implications for the crypto landscape.
