{"id":9871,"date":"2024-09-27T08:29:36","date_gmt":"2024-09-27T08:29:36","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=9871"},"modified":"2024-09-27T08:29:36","modified_gmt":"2024-09-27T08:29:36","slug":"ripple-v-sec-lawsuit-news-increased-rumors-of-a-potential-appeal","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=9871","title":{"rendered":"Ripple v. SEC Lawsuit News: Increased Rumors of a Potential Appeal"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Ripple secured a partial win against the SEC, but the regulator has until October 7 to appeal the decision.
\nXRP\u2019s price holds steady at $0.59, with some predicting an astronomical surge in the near future.<\/p>\n

<\/a><\/span><\/h2>\n

What Could be Next?<\/h2>\n

The legal battle between Ripple and the Securities and Exchange Commission (SEC) goes on<\/span>. Back in August, Judge Torres ruled that the sales of XRP on secondary markets to retail investors did not constitute securities transactions. However, she <\/span>ordered<\/span><\/a> Ripple to pay $125 million for violating\u00a0<\/span>certain<\/span> securities laws.\u00a0<\/span><\/p>\n

While the amount may sound substantial, it <\/span>actually<\/span> represents a whopping 94% discount on the SEC\u2019s initial request. As such, many industry participants labeled the development a <\/span>major<\/span> victory for Ripple, suggesting that the company will pay the penalty. On the other hand, some believe the agency is more likely to contend. The deadline for such a move is October 7.<\/span><\/p>\n

Most recently, Eleanor Terrett (a journalist working for Fox Business) said<\/a> a former SEC lawyer told her that the regulator will \u201cprobably\u201d appeal Judge Torres\u2019 ruling from July 2023 concerning \u201cthe XRP programmatic sales in the Ripple case.\u201d The attorney supposedly claimed that \u201ceveryone over there [at the SEC] truly believes that the decision is wrong, that it\u2019s not good law, and should <\/span>be appealed<\/span>.\u201d<\/span><\/p>\n

The rumors of such a potential move by the watchdog sparked heated debates on X, with several users disagreeing with that scenario. The <\/span>popular<\/span> attorney Jeremy Hogan <\/span>argued<\/span><\/a> that the SEC should think carefully whether an appeal \u201cfurthers its mandate of investor protection and capital formation.\u201d<\/span><\/p>\n

\u201cWhy isn\u2019t that <\/span>top of<\/span> mind?<\/span> More evidence the SEC has lost the plot,\u201d he added.<\/span><\/p>\n

XRP Price Outlook<\/span><\/h2>\n

The uncertainty surrounding the Ripple v. SEC case might be one factor putting the breaks on XRP to follow the cryptocurrency market\u2019s recent resurgence. The asset\u2019s price is hovering around $0.59, roughly the same figure observed a week ago.
\n<\/span><\/p>\n

<\/a>XRP Price, Source: CoinGecko<\/p>\n

However, numerous analysts are optimistic that it will soon experience a bull run and reach a new all-time high. JackTheRippler, for instance, recently <\/span>assumed<\/span><\/a> that October could be \u201ca life-changing month\u201d for the token\u2019s holders.<\/span><\/p>\n

EGRAG CRYPTO was even more bullish, claiming XRP could skyrocket to as high as $13 in the following months. Such an explosion would require its market capitalization to hit over $670 billion, making the forecast quite unlikely (to say the least).<\/span><\/p>\n

The post Ripple v. SEC Lawsuit News: Increased Rumors of a Potential Appeal<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Ripple secured a partial win against the SEC, but the regulator has until October 7 to appeal the decision. XRP\u2019s price holds steady at $0.59, with some predicting an astronomical surge in the near future. What Could be Next? The legal battle between Ripple and the Securities and Exchange Commission (SEC) goes on. Back […]<\/p>\n","protected":false},"author":0,"featured_media":9872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9871"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9871"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/9872"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}